Constellation Brands Inc. (STZ) Receives “Overweight” Rating from Morgan Stanley
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “overweight” rating reiterated by investment analysts at Morgan Stanley in a report issued on Saturday. They presently have a $194.00 price target on the stock, up from their previous price target of $191.00. Morgan Stanley’s price objective suggests a potential upside of 14.90% from the stock’s previous close.
STZ has been the subject of a number of other research reports. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 target price for the company in a research report on Friday, July 1st. Credit Suisse Group AG started coverage on Constellation Brands in a report on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price objective for the company. Credit Agricole SA reiterated an “outperform” rating on shares of Constellation Brands in a report on Monday, August 22nd. Wells Fargo & Co. reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Finally, Susquehanna reiterated a “hold” rating and issued a $155.00 price objective on shares of Constellation Brands in a report on Tuesday, June 28th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $176.75.
Shares of Constellation Brands (NYSE:STZ) opened at 168.84 on Friday. The stock has a market capitalization of $33.85 billion, a P/E ratio of 30.42 and a beta of 0.63. The stock’s 50 day moving average price is $165.62 and its 200-day moving average price is $160.44. Constellation Brands has a 1-year low of $130.23 and a 1-year high of $173.55.
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Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.12. The company earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 EPS. Equities research analysts anticipate that Constellation Brands will post $6.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 4th. This represents a $1.60 annualized dividend and a yield of 0.95%. Constellation Brands’s dividend payout ratio is 27.49%.
In other Constellation Brands news, VP F Paul Hetterich sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $164.60, for a total value of $1,646,000.00. Following the sale, the vice president now owns 61,404 shares in the company, valued at $10,107,098.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William F. Hackett sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $164.67, for a total value of $1,317,360.00. Following the completion of the sale, the executive vice president now owns 54,934 shares in the company, valued at approximately $9,045,981.78. The disclosure for this sale can be found here. 10.63% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA raised its stake in Constellation Brands by 505.7% in the first quarter. Glenmede Trust Co. NA now owns 5,300 shares of the company’s stock valued at $800,000 after buying an additional 4,425 shares in the last quarter. Prudential Financial Inc. raised its stake in Constellation Brands by 3.5% in the first quarter. Prudential Financial Inc. now owns 223,451 shares of the company’s stock valued at $33,762,000 after buying an additional 7,580 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Constellation Brands during the first quarter valued at about $165,000. Palisade Capital Management LLC NJ raised its stake in Constellation Brands by 243.2% in the first quarter. Palisade Capital Management LLC NJ now owns 20,000 shares of the company’s stock valued at $3,022,000 after buying an additional 14,172 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Constellation Brands during the first quarter valued at about $576,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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