Citigroup Inc. Reaffirms Neutral Rating for Constellation Brands Inc. (STZ)
Constellation Brands Inc. (NYSE:STZ)‘s stock had its “neutral” rating reaffirmed by equities researchers at Citigroup Inc. in a research note issued to investors on Sunday. They currently have a $191.00 price objective on the stock, up from their previous price objective of $180.00. Citigroup Inc.’s price objective indicates a potential upside of 13.12% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. Goldman Sachs Group Inc. restated a “buy” rating on shares of Constellation Brands in a research report on Friday, July 15th. Pivotal Research restated a “buy” rating and set a $200.00 target price on shares of Constellation Brands in a research report on Thursday. Bank of America Corp. restated a “buy” rating and set a $195.00 target price on shares of Constellation Brands in a research report on Thursday. Susquehanna restated a “hold” rating on shares of Constellation Brands in a research report on Monday, August 8th. Finally, Wells Fargo & Co. restated an “outperform” rating and set a $185.00 target price on shares of Constellation Brands in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average 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, reaching $168.84. The company’s stock had a trading volume of 1,751,101 shares. 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 one year low of $130.23 and a one year high of $173.55. The firm has a market cap of $33.85 billion, a price-to-earnings ratio of 30.42 and a beta of 0.63.
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Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.12. The business 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 business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 EPS. Analysts predict that Constellation Brands will post $6.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, November 4th. Constellation Brands’s payout ratio is 27.49%.
In other Constellation Brands news, VP Thomas J. Mullin sold 9,516 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $166.42, for a total value of $1,583,652.72. Following the sale, the vice president now owns 88,602 shares of the company’s stock, valued at $14,745,144.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP F Paul Hetterich sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $164.60, for a total value of $1,646,000.00. Following the completion of the sale, the vice president now directly owns 61,404 shares in the company, valued at approximately $10,107,098.40. The disclosure for this sale can be found here. 10.63% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Hanson McClain Inc. raised its stake in shares of Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock worth $126,000 after buying an additional 2 shares during the last quarter. Conning Inc. raised its stake in shares of Constellation Brands by 0.3% in the second quarter. Conning Inc. now owns 2,875 shares of the company’s stock worth $476,000 after buying an additional 10 shares during the last quarter. Investors Capital Advisory Services raised its stake 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 worth $502,000 after buying an additional 12 shares during the last quarter. Quadrant Capital Group LLC raised its stake 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 worth $103,000 after buying an additional 14 shares during the last quarter. Finally, Synovus Financial Corp raised its stake 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 worth $629,000 after buying an additional 16 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors.
Constellation Brands Company Profile
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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