Constellation Brands, Inc. (NYSE:STZ) – Equities research analysts at Jefferies Financial Group decreased their Q2 2021 earnings per share (EPS) estimates for Constellation Brands in a note issued to investors on Monday, September 14th. Jefferies Financial Group analyst K. Grundy now anticipates that the company will post earnings per share of $2.53 for the quarter, down from their previous forecast of $2.54. Jefferies Financial Group has a “Buy” rating and a $238.00 price target on the stock. Jefferies Financial Group also issued estimates for Constellation Brands’ Q4 2021 earnings at $1.87 EPS, FY2021 earnings at $9.23 EPS, FY2022 earnings at $10.22 EPS and FY2023 earnings at $11.87 EPS.
STZ has been the subject of a number of other research reports. Deutsche Bank lifted their target price on shares of Constellation Brands from $176.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. HSBC raised their target price on shares of Constellation Brands from $147.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Constellation Brands from $200.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Citigroup raised their target price on shares of Constellation Brands from $176.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Finally, Credit Suisse Group raised their target price on shares of Constellation Brands from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $197.32.
Shares of STZ opened at $193.20 on Tuesday. The company has a current ratio of 1.94, a quick ratio of 1.18 and a debt-to-equity ratio of 1.02. The stock has a market cap of $37.26 billion, a P/E ratio of 1,073.39, a PEG ratio of 2.07 and a beta of 0.97. The company has a 50-day moving average of $181.43 and a two-hundred day moving average of $169.38. Constellation Brands has a 12-month low of $104.28 and a 12-month high of $210.65.
Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 1st. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.29. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Constellation Brands had a net margin of 0.62% and a return on equity of 15.10%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 earnings per share.
Hedge funds have recently modified their holdings of the company. Rockbridge Investment Management LCC purchased a new position in shares of Constellation Brands in the 2nd quarter valued at $25,000. Heritage Wealth Advisors raised its stake in shares of Constellation Brands by 193.3% in the 2nd quarter. Heritage Wealth Advisors now owns 440 shares of the company’s stock valued at $26,000 after acquiring an additional 290 shares during the period. Ellevest Inc. raised its stake in shares of Constellation Brands by 84.1% in the 2nd quarter. Ellevest Inc. now owns 162 shares of the company’s stock valued at $28,000 after acquiring an additional 74 shares during the period. NuWave Investment Management LLC purchased a new position in shares of Constellation Brands in the 2nd quarter valued at $28,000. Finally, Citizens Financial Group Inc RI raised its stake in shares of Constellation Brands by 121.1% in the 1st quarter. Citizens Financial Group Inc RI now owns 210 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. 71.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Robert Sands sold 172,369 shares of the firm’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $180.40, for a total value of $31,095,367.60. Following the transaction, the chairman now owns 616,148 shares of the company’s stock, valued at approximately $111,153,099.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Richard Sands sold 151,404 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $181.17, for a total transaction of $27,429,862.68. Following the completion of the transaction, the insider now directly owns 301,280 shares in the company, valued at approximately $54,582,897.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,052,364 shares of company stock worth $189,856,440. 15.77% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a $0.75 dividend. The ex-dividend date was Monday, August 10th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio (DPR) is presently 10.20%.
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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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