Shares of Constellation Brands (NYSE:STZ) have received a consensus recommendation of “Buy” from the twenty-five analysts that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $245.61.
A number of research firms recently commented on STZ. Societe Generale raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a research report on Tuesday, March 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $260.00 target price on shares of Constellation Brands in a research report on Thursday, March 29th. Vetr raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 target price on the stock in a research report on Monday, February 12th. Pivotal Research increased their target price on shares of Constellation Brands from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, March 29th. Finally, Cowen reaffirmed a “buy” rating and issued a $265.00 target price on shares of Constellation Brands in a research report on Friday, March 30th.
In other news, Director Barry A. Fromberg sold 3,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $229.22, for a total value of $687,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry A. Fromberg sold 2,005 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total transaction of $441,942.10. Following the completion of the sale, the director now owns 20,790 shares of the company’s stock, valued at approximately $4,582,531.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,905 shares of company stock worth $5,218,499 over the last three months. 15.59% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. MAI Capital Management lifted its stake in shares of Constellation Brands by 4.6% in the 4th quarter. MAI Capital Management now owns 5,742 shares of the company’s stock worth $1,312,000 after acquiring an additional 254 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX lifted its stake in shares of Constellation Brands by 9.9% in the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,855 shares of the company’s stock worth $653,000 after acquiring an additional 258 shares during the period. First Personal Financial Services lifted its stake in shares of Constellation Brands by 20.7% in the 4th quarter. First Personal Financial Services now owns 1,530 shares of the company’s stock worth $350,000 after acquiring an additional 262 shares during the period. Schroder Investment Management Group lifted its stake in shares of Constellation Brands by 17.0% in the 4th quarter. Schroder Investment Management Group now owns 1,849 shares of the company’s stock worth $423,000 after acquiring an additional 268 shares during the period. Finally, First Allied Advisory Services Inc. lifted its stake in shares of Constellation Brands by 8.0% in the 4th quarter. First Allied Advisory Services Inc. now owns 3,743 shares of the company’s stock worth $860,000 after acquiring an additional 278 shares during the period. Institutional investors own 74.56% of the company’s stock.
Shares of STZ traded up $1.43 during midday trading on Wednesday, reaching $232.83. The stock had a trading volume of 261,813 shares, compared to its average volume of 1,907,023. Constellation Brands has a 1-year low of $169.70 and a 1-year high of $233.18. The firm has a market capitalization of $44,203.07, a price-to-earnings ratio of 26.64, a PEG ratio of 1.28 and a beta of 0.09. The company has a current ratio of 1.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.17.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, March 29th. The company reported $1.90 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business earned $1.48 EPS. The company’s revenue was up 8.5% on a year-over-year basis. analysts predict that Constellation Brands will post 9.68 earnings per share for the current fiscal year.
Constellation Brands declared that its Board of Directors has initiated a stock buyback program on Friday, January 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
The firm 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 is an increase from Constellation Brands’s previous quarterly dividend of $0.52. This represents a $2.96 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, May 9th. Constellation Brands’s dividend payout ratio (DPR) is presently 10.67%.
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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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