Constellation Brands Inc (STZ) Given Outperform Rating at Wells Fargo & Company
Constellation Brands Inc (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Company in a research report issued to clients and investors on Saturday. They currently have a $216.00 target price on the stock, up from their previous target price of $215.00. Wells Fargo & Company’s price objective would indicate a potential upside of 8.81% from the stock’s current price.
A number of other brokerages have also weighed in on STZ. Morgan Stanley boosted their target price on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, July 3rd. BidaskClub raised Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $205.00 target price (up previously from $183.00) on shares of Constellation Brands in a research report on Friday, April 7th. UBS AG boosted their price target on Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a research note on Friday, June 30th. Finally, OTR Global downgraded Constellation Brands to a “positive” rating in a research note on Tuesday, March 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $198.59.
Constellation Brands (NYSE:STZ) traded up 0.20% during trading on Friday, reaching $198.52. 707,862 shares of the company traded hands. The company’s 50-day moving average price is $188.20 and its 200 day moving average price is $169.71. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $199.89. The firm has a market capitalization of $38.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.07.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the firm earned $1.54 EPS. Constellation Brands’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Constellation Brands will post $8.17 EPS for the current year.
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In related news, VP Thomas Michael Kane sold 4,940 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the transaction, the vice president now directly owns 8,914 shares in the company, valued at approximately $1,722,897.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James A. Locke III sold 6,340 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $173.05, for a total value of $1,097,137.00. Following the transaction, the director now owns 44,415 shares of the company’s stock, valued at $7,686,015.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,107 shares of company stock valued at $9,018,910. 15.59% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in STZ. Copeland Capital Management LLC boosted its position in Constellation Brands by 20.2% in the second quarter. Copeland Capital Management LLC now owns 39,816 shares of the company’s stock worth $7,714,000 after buying an additional 6,688 shares in the last quarter. Huntington National Bank boosted its position in Constellation Brands by 1.1% in the second quarter. Huntington National Bank now owns 193,977 shares of the company’s stock worth $37,580,000 after buying an additional 2,190 shares in the last quarter. Hermes Investment Management Ltd. boosted its position in Constellation Brands by 16.8% in the second quarter. Hermes Investment Management Ltd. now owns 38,322 shares of the company’s stock worth $7,424,000 after buying an additional 5,503 shares in the last quarter. Financial Architects Inc boosted its position in Constellation Brands by 1.4% in the second quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock worth $344,000 after buying an additional 25 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in Constellation Brands during the second quarter worth approximately $7,284,000. Institutional investors own 75.39% 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, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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