Constellation Brands VP Unloads $2,530,000 in Stock (STZ)
Constellation Brands (NYSE:STZ) VP John Wright sold 40,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $63.25, for a total value of $2,530,000.00. Following the completion of the sale, the vice president now directly owns 93,217 shares in the company, valued at approximately $5,895,975. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on STZ. Analysts at Zacks upgraded shares of Constellation Brands from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 10th. They now have a $66.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $53.00 to $66.00 in a research note to investors on Friday, October 4th. They now have a “neutral” rating on the stock. Finally, analysts at DA Davidson raised their price target on shares of Constellation Brands from $70.00 to $78.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Constellation Brands has a consensus rating of “Buy” and an average target price of $59.55.
Constellation Brands (NYSE:STZ) traded up 0.69% on Friday, hitting $64.33. 1,319,364 shares of the company’s stock traded hands. Constellation Brands has a 1-year low of $28.37 and a 1-year high of $64.07. The stock has a 50-day moving average of $58.82 and a 200-day moving average of $53.22. The company has a market cap of $12.180 billion and a price-to-earnings ratio of 6.85.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $0.96 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.88 by $0.08. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 108.9% on a year-over-year basis. Analysts expect that Constellation Brands will post $3.00 EPS for the current fiscal year.
Constellation Brands, Inc, is a wine company. The Company is a marketer of imported beer in the United States.
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