Constellation Brands (NYSE:STZ) had its price target boosted by Bank of America from $235.00 to $240.00 in a research note published on Friday, Marketbeat reports. The firm currently has a buy rating on the stock.
A number of other brokerages have also recently commented on STZ. UBS Group cut shares of Constellation Brands to a neutral rating in a research report on Monday, August 20th. Cann reduced their target price on shares of Constellation Brands from $234.00 to $226.00 and set a buy rating for the company in a research report on Thursday, August 16th. Susquehanna Bancshares reduced their target price on shares of Constellation Brands from $171.00 to $165.00 and set a negative rating for the company in a research report on Monday, October 1st. Pivotal Research reiterated a buy rating and issued a $285.00 target price on shares of Constellation Brands in a research report on Friday, June 29th. Finally, Evercore ISI set a $255.00 target price on shares of Constellation Brands and gave the company a buy rating in a research report on Friday, September 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands presently has a consensus rating of Buy and an average target price of $246.18.
NYSE:STZ opened at $223.18 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.81 and a debt-to-equity ratio of 0.89. The firm has a market cap of $41.23 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.13 and a beta of 0.01. Constellation Brands has a fifty-two week low of $198.85 and a fifty-two week high of $236.62.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 4th. The company reported $2.87 EPS for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Constellation Brands had a net margin of 31.51% and a return on equity of 19.81%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 earnings per share. As a group, equities research analysts predict that Constellation Brands will post 9.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Monday, November 5th. Constellation Brands’s dividend payout ratio is currently 10.67%.
Several institutional investors and hedge funds have recently made changes to their positions in STZ. Sun Life Financial INC grew its holdings in shares of Constellation Brands by 155.3% in the second quarter. Sun Life Financial INC now owns 457 shares of the company’s stock valued at $100,000 after purchasing an additional 278 shares during the period. Clarus Wealth Advisors purchased a new stake in shares of Constellation Brands in the second quarter valued at about $111,000. Atlantic Trust LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $114,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Constellation Brands by 227.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock valued at $115,000 after purchasing an additional 366 shares during the period. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $125,000. 73.49% of the stock is owned by hedge funds and other institutional investors.
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 provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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