Constellation Brands (NYSE:STZ) had its price target upped by investment analysts at Macquarie from $246.00 to $250.00 in a research note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target would suggest a potential upside of 10.35% from the stock’s previous close.
STZ has been the topic of a number of other reports. SunTrust Banks reaffirmed a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a research note on Friday, October 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $235.00 target price (up from $230.00) on shares of Constellation Brands in a research note on Friday, October 6th. Pivotal Research lifted their price target on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Morgan Stanley lifted their price target on shares of Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, October 6th. Finally, Citigroup reissued a “neutral” rating and set a $232.00 price target (up from $211.00) on shares of Constellation Brands in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and a consensus price target of $220.33.
Shares of Constellation Brands (STZ) traded down $2.01 on Wednesday, reaching $226.56. 2,346,800 shares of the company were exchanged, compared to its average volume of 2,086,900. The stock has a market capitalization of $44,340.00, a P/E ratio of 28.97, a P/E/G ratio of 1.47 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. Constellation Brands has a 1-year low of $144.00 and a 1-year high of $229.46.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.30. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. Constellation Brands’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. research analysts anticipate that Constellation Brands will post 8.43 EPS for the current year.
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 value of $520,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $209.45, for a total transaction of $10,472,500.00. The disclosure for this sale can be found here. Insiders sold 73,662 shares of company stock worth $15,564,585 in the last 90 days. Company insiders own 15.59% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. boosted its holdings in Constellation Brands by 12.9% in the third quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock valued at $634,000 after acquiring an additional 362 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in 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 acquiring an additional 7,052 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Constellation Brands by 12.2% in the third quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock valued at $13,000,000 after acquiring an additional 7,086 shares in the last quarter. Achmea Investment Management B.V. boosted its holdings in Constellation Brands by 88.1% in the second quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock valued at $1,808,000 after acquiring an additional 4,377 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC bought a new stake in Constellation Brands in the third quarter valued at $204,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.
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Constellation Brands Company Profile
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.