Investment analysts at Deutsche Bank initiated coverage on shares of Constellation Brands (NYSE:STZ) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other brokerages also recently issued reports on STZ. Royal Bank of Canada restated a “buy” rating and set a $226.00 price objective on shares of Constellation Brands in a research report on Sunday, November 12th. Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup restated a “neutral” rating and set a $232.00 price objective (up from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. J P Morgan Chase & Co restated an “overweight” rating and set a $237.00 price objective (up from $220.00) on shares of Constellation Brands in a research report on Friday, October 6th. Finally, Cowen restated an “outperform” rating and set a $243.00 price objective (up from $230.00) on shares of Constellation Brands in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $216.00.
Shares of Constellation Brands (NYSE STZ) traded down $1.43 during trading hours on Wednesday, reaching $218.58. 1,104,763 shares of the company traded hands, compared to its average volume of 1,454,673. Constellation Brands has a twelve month low of $144.00 and a twelve month high of $227.20. The firm has a market cap of $42,910.30, a P/E ratio of 26.59, a P/E/G ratio of 1.41 and a beta of 0.08. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69.
In other news, Director Barry A. Fromberg sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total transaction of $520,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William A. Newlands sold 2,935 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $210.10, for a total transaction of $616,643.50. The disclosure for this sale can be found here. Insiders have sold 73,662 shares of company stock worth $15,564,585 over the last ninety days. Insiders own 15.59% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after acquiring an additional 193 shares during the last quarter. Hanson McClain Inc. increased its stake in Constellation Brands by 0.4% in the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after acquiring an additional 3 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Constellation Brands by 609.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock valued at $151,000 after acquiring an additional 670 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Constellation Brands in the third quarter valued at approximately $153,000. Finally, Acrospire Investment Management LLC increased its stake in Constellation Brands by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $155,000 after acquiring an additional 400 shares during the last quarter. 75.04% of the stock is currently owned by institutional investors.
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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.
