Citigroup Inc. Reaffirms Neutral Rating for Constellation Brands Inc. (STZ)
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup Inc. in a report released on Sunday. They presently have a $191.00 target price on the stock, up from their previous target price of $180.00. Citigroup Inc.’s price objective points to a potential upside of 13.12% from the stock’s previous close.
STZ has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price target on the stock in a report on Friday, July 1st. Credit Suisse Group AG began coverage on shares of Constellation Brands in a report on Thursday, September 15th. They set a “neutral” rating and a $178.00 price target on the stock. Credit Agricole SA restated an “outperform” rating on shares of Constellation Brands in a report on Monday, August 22nd. Morgan Stanley restated an “overweight” rating and set a $194.00 price target (up previously from $191.00) on shares of Constellation Brands in a report on Saturday. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $181.25.
Shares of Constellation Brands (NYSE:STZ) traded down 1.28% during midday trading on Friday, hitting $168.84. 1,751,101 shares of the stock were exchanged. The firm has a market cap of $33.85 billion, a P/E ratio of 30.42 and a beta of 0.63. The stock’s 50 day moving average is $165.62 and its 200 day moving average is $160.44. Constellation Brands has a 12-month low of $130.23 and a 12-month high of $173.55.
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Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.12. The business had revenue of $2.02 billion for the quarter. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. On average, equities research analysts forecast that Constellation Brands will post $6.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, November 4th. Constellation Brands’s dividend payout ratio is currently 27.49%.
In related news, EVP William F. Hackett sold 8,000 shares of Constellation Brands stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the completion of the transaction, the executive vice president now directly owns 54,934 shares of the company’s stock, valued at approximately $9,045,981.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP F Paul Hetterich sold 10,000 shares of Constellation Brands stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the transaction, the vice president now directly owns 61,404 shares of the company’s stock, valued at $10,107,098.40. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Hanson McClain Inc. increased its position in shares of Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock valued at $126,000 after buying an additional 2 shares in the last quarter. Conning Inc. increased its position in shares of Constellation Brands by 0.3% in the second quarter. Conning Inc. now owns 2,875 shares of the company’s stock valued at $476,000 after buying an additional 10 shares in the last quarter. Investors Capital Advisory Services increased its position in shares of Constellation Brands by 0.4% in the second quarter. Investors Capital Advisory Services now owns 3,043 shares of the company’s stock valued at $502,000 after buying an additional 12 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock valued at $103,000 after buying an additional 14 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Constellation Brands by 0.4% in the second quarter. Synovus Financial Corp now owns 3,802 shares of the company’s stock valued at $629,000 after buying an additional 16 shares in the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.
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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