Constellation Brands (NYSE:STZ) had its price objective cut by BMO Capital Markets to $225.00 in a research note published on Thursday morning, The Fly reports. They currently have an outperform rating on the stock.
Other analysts have also issued reports about the company. Macquarie set a $245.00 price target on Constellation Brands and gave the stock a buy rating in a research note on Friday, October 5th. Barclays set a $257.00 price target on Constellation Brands and gave the stock a buy rating in a research note on Friday, October 5th. Bank of America lifted their price target on Constellation Brands from $235.00 to $240.00 and gave the stock a buy rating in a research note on Friday, October 5th. Deutsche Bank lifted their price target on Constellation Brands from $233.00 to $245.00 and gave the stock a buy rating in a research note on Friday, October 5th. Finally, Jefferies Financial Group reaffirmed a buy rating and issued a $283.00 price target on shares of Constellation Brands in a research note on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $228.09.
Shares of NYSE:STZ opened at $159.21 on Thursday. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $28.60 billion, a PE ratio of 18.26, a PEG ratio of 1.57 and a beta of 0.38. Constellation Brands has a 1 year low of $150.37 and a 1 year high of $236.62.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.33. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.91 billion. Constellation Brands had a return on equity of 18.27% and a net margin of 35.27%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. Research analysts anticipate that Constellation Brands will post 9.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Monday, February 11th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.86%. Constellation Brands’s payout ratio is currently 10.67%.
In related news, VP Thomas Michael Kane sold 4,419 shares of the company’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $223.83, for a total value of $989,104.77. Following the completion of the sale, the vice president now directly owns 8,499 shares of the company’s stock, valued at approximately $1,902,331.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Sands sold 136,547 shares of the company’s stock in a transaction dated Friday, October 19th. The shares were sold at an average price of $223.62, for a total value of $30,534,640.14. Following the completion of the sale, the chief executive officer now directly owns 737,607 shares of the company’s stock, valued at $164,943,677.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 578,723 shares of company stock worth $129,438,449. Company insiders own 15.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Carroll Financial Associates Inc. lifted its position in Constellation Brands by 132.0% during the 4th quarter. Carroll Financial Associates Inc. now owns 283 shares of the company’s stock worth $48,000 after acquiring an additional 161 shares during the period. Atlantic Trust LLC purchased a new position in shares of Constellation Brands during the 2nd quarter worth approximately $114,000. TLP Group LLC purchased a new position in shares of Constellation Brands during the 3rd quarter worth approximately $136,000. Truvestments Capital LLC purchased a new position in shares of Constellation Brands during the 3rd quarter worth approximately $137,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Constellation Brands by 49.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock worth $170,000 after buying an additional 260 shares in the last quarter. 72.56% of the stock is owned by 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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