Constellation Brands Inc (STZ) Coverage Initiated by Analysts at Macquarie
Equities research analysts at Macquarie initiated coverage on shares of Constellation Brands Inc (NYSE:STZ) in a note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
STZ has been the subject of a number of other research reports. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Morgan Stanley boosted their price objective on Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $198.00 price objective (down previously from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Credit Suisse Group set a $203.00 price objective on Constellation Brands and gave the company a “hold” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Constellation Brands currently has a consensus rating of “Buy” and an average target price of $200.53.
Shares of Constellation Brands (NYSE:STZ) traded down 0.04% on Thursday, reaching $204.36. 812,492 shares of the company were exchanged. Constellation Brands has a 12-month low of $144.00 and a 12-month high of $205.12. The stock’s 50-day moving average is $198.02 and its 200 day moving average is $182.02. The firm has a market capitalization of $39.91 billion, a PE ratio of 25.63 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last released 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. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. Constellation Brands’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. On average, analysts forecast that Constellation Brands will post $8.18 EPS for the current year.
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In other Constellation Brands news, EVP William F. Hackett sold 12,517 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $193.28, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders sold 108,118 shares of company stock worth $21,052,835. 15.59% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. W. E. Donoghue & Co. LLC bought a new position in shares of Constellation Brands in the second quarter worth about $2,385,000. Achmea Investment Management B.V. raised its stake in shares of Constellation Brands by 88.1% in the second quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock worth $1,808,000 after buying an additional 4,377 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Constellation Brands in the second quarter worth about $43,914,000. WFG Advisors LP raised its stake in shares of Constellation Brands by 7.3% in the second quarter. WFG Advisors LP now owns 1,364 shares of the company’s stock worth $264,000 after buying an additional 93 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Constellation Brands by 24.5% in the second quarter. Toronto Dominion Bank now owns 58,102 shares of the company’s stock worth $11,253,000 after buying an additional 11,441 shares during the period. 74.95% of the stock is currently 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, 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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