Analysts Set Constellation Brands (STZ) Target Price at $245.61

Shares of Constellation Brands (NYSE:STZ) have earned a consensus rating of “Buy” from the twenty-five brokerages that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $245.61.

Several research firms recently commented on STZ. Argus raised their price target on shares of Constellation Brands to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, April 3rd. Morgan Stanley raised their target price on shares of Constellation Brands from $250.00 to $262.00 and gave the company an “overweight” rating in a research report on Tuesday, April 3rd. ValuEngine raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Stifel Nicolaus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $245.00 to $228.00 in a research report on Monday, April 2nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a “buy” rating and set a $280.00 target price on shares of Constellation Brands in a research report on Monday, April 2nd.

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In related news, Director Barry A. Fromberg sold 2,005 shares of Constellation Brands stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total value of $441,942.10. Following the completion of the sale, the director now directly owns 20,790 shares in the company, valued at approximately $4,582,531.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James A. Locke III sold 6,398 shares of Constellation Brands stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $230.50, for a total transaction of $1,474,739.00. Following the completion of the sale, the director now owns 44,954 shares of the company’s stock, valued at $10,361,897. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,303 shares of company stock worth $6,693,238. Insiders own 15.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in STZ. Bessemer Group Inc. lifted its stake in 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 during the period. Cerebellum GP LLC acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $134,000. Trustcore Financial Services LLC acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $142,000. Calton & Associates Inc. acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $153,000. Finally, Elite Wealth Management Inc. acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $206,000. Institutional investors and hedge funds own 74.61% of the company’s stock.

STZ stock traded up $0.22 during trading on Wednesday, hitting $227.80. The company had a trading volume of 345,310 shares, compared to its average volume of 1,884,864. The company has a market capitalization of $44,312.11, a PE ratio of 26.13, a P/E/G ratio of 1.28 and a beta of 0.09. Constellation Brands has a 52-week low of $169.70 and a 52-week high of $233.18. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.79 and a quick ratio of 0.71.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, March 29th. The company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.16. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.76 billion. Constellation Brands had a net margin of 27.85% and a return on equity of 22.28%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. sell-side analysts forecast that Constellation Brands will post 9.68 EPS for the current fiscal year.

Constellation Brands declared that its Board of Directors has initiated a share repurchase program on Friday, January 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Thursday, May 10th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.52. Constellation Brands’s payout ratio is presently 10.67%.

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About Constellation Brands

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.

Analyst Recommendations for Constellation Brands (NYSE:STZ)

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