Constellation Brands (NYSE:STZ) shares reached a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $233.19 and last traded at $231.40, with a volume of 1524806 shares changing hands. The stock had previously closed at $227.02.
Several research analysts have issued reports on the company. Argus upped their price target on Constellation Brands to $260.00 and gave the company a “buy” rating in a report on Tuesday, April 3rd. Morgan Stanley upped their price target on Constellation Brands from $250.00 to $262.00 and gave the company an “overweight” rating in a report on Tuesday, April 3rd. ValuEngine raised Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Stifel Nicolaus cut Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the company from $245.00 to $228.00 in a report on Monday, April 2nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $280.00 price target on shares of Constellation Brands in a report on Monday, April 2nd. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Constellation Brands has an average rating of “Buy” and a consensus price target of $245.77.
The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.71 and a current ratio of 1.79. The stock has a market capitalization of $43,593.63, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.26 and a beta of 0.09.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, March 29th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.16. Constellation Brands had a net margin of 27.85% and a return on equity of 22.28%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the company posted $1.48 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. sell-side analysts expect that Constellation Brands will post 9.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 1.28%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, May 9th. Constellation Brands’s payout ratio is presently 10.67%.
Constellation Brands declared that its board has authorized a stock repurchase program on Friday, January 5th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other Constellation Brands news, Director Barry A. Fromberg sold 3,000 shares of Constellation Brands stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $229.22, for a total transaction of $687,660.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Eric Klein sold 17,900 shares of Constellation Brands stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $228.43, for a total transaction of $4,088,897.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,905 shares of company stock worth $5,218,499. Corporate insiders own 15.59% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in shares of Constellation Brands by 153.1% during the 4th quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock valued at $121,000 after acquiring an additional 320 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of Constellation Brands during the 4th quarter valued at $134,000. Trustcore Financial Services LLC purchased a new position in shares of Constellation Brands during the 4th quarter valued at $142,000. Calton & Associates Inc. purchased a new position in shares of Constellation Brands during the 4th quarter valued at $153,000. Finally, Elite Wealth Management Inc. purchased a new position in shares of Constellation Brands during the 4th quarter valued at $206,000. Institutional investors and hedge funds own 74.56% of the company’s stock.
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Constellation Brands Company Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.
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