Cowen and Company Reaffirms “Outperform” Rating for Constellation Brands Inc (STZ)
Constellation Brands Inc (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a research note issued on Friday. They currently have a $243.00 target price on the stock, up from their prior target price of $230.00. Cowen and Company’s target price would suggest a potential upside of 16.13% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. J P Morgan Chase & Co reissued an “overweight” rating and issued a $220.00 price objective (up from $188.00) on shares of Constellation Brands in a report on Friday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price objective (up from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. UBS AG increased their price objective on Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a report on Friday, June 30th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $193.00 price objective (up from $169.00) on shares of Constellation Brands in a report on Monday. Finally, Pivotal Research increased their price objective on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $212.95.
Constellation Brands (NYSE STZ) traded down 0.74% during mid-day trading on Friday, reaching $207.71. 852,385 shares of the company were exchanged. The firm has a market capitalization of $40.57 billion, a P/E ratio of 26.05 and a beta of 0.04. The stock has a 50-day moving average of $200.74 and a 200 day moving average of $186.60. Constellation Brands has a 1-year low of $144.00 and a 1-year high of $213.40. Constellation Brands also was the target of some unusual options trading on Wednesday. Traders acquired 8,867 put options on the stock. This is an increase of 667% compared to the typical volume of 1,156 put options.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 earnings per share. Equities research analysts forecast that Constellation Brands will post $8.18 earnings per share for the current year.
In other news, EVP William F. Hackett sold 12,517 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher Stenzel sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $196.75, for a total value of $983,750.00. Following the completion of the transaction, the executive vice president now owns 39,721 shares of the company’s stock, valued at approximately $7,815,106.75. The disclosure for this sale can be found here. In the last three months, insiders sold 79,351 shares of company stock valued at $15,484,172. 15.59% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. DSAM Partners London Ltd purchased a new position in shares of Constellation Brands in the second quarter valued at $21,659,000. Brighton Jones LLC purchased a new position in shares of Constellation Brands in the second quarter valued at $245,000. Cipher Capital LP purchased a new position in shares of Constellation Brands in the second quarter valued at $7,833,000. Oak Ridge Investments LLC increased its position in shares of Constellation Brands by 24.4% in the second quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock valued at $6,956,000 after buying an additional 7,052 shares in the last quarter. Finally, United Capital Financial Advisers LLC increased its position in shares of Constellation Brands by 9.6% in the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock valued at $1,477,000 after buying an additional 797 shares in the last quarter. Institutional investors and hedge funds own 74.96% 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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