Constellation Brands (NYSE:STZ) had its price objective upped by stock analysts at Wells Fargo & Co from $235.00 to $260.00 in a report released on Thursday. The firm currently has an “outperform” rating on the stock. Wells Fargo & Co’s target price suggests a potential upside of 18.25% from the company’s previous close.
A number of other analysts have also issued reports on the company. Macquarie increased their target price on Constellation Brands from $246.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday. Susquehanna Bancshares set a $207.00 target price on Constellation Brands and gave the company a “hold” rating in a report on Monday, January 1st. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 target price for the company in a report on Monday, December 18th. Deutsche Bank started coverage on Constellation Brands in a report on Wednesday, December 13th. They set a “buy” rating and a $244.00 price objective for the company. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $226.00 price objective on shares of Constellation Brands in a report on Sunday, November 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $225.55.
Constellation Brands (STZ) traded down $5.91 on Thursday, hitting $219.88. The stock had a trading volume of 10,180,000 shares, compared to its average volume of 1,680,000. The stock has a market capitalization of $43,040.00, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.42 and a beta of 0.08. Constellation Brands has a one year low of $146.40 and a one year high of $229.50. 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 announced that its Board of Directors has initiated a stock buyback program on Friday, January 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $209.45, for a total transaction of $10,472,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,662 shares of company stock valued at $15,564,585. 15.59% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of STZ. Janus Henderson Group PLC increased its position in Constellation Brands by 4,909.6% during the second quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock worth $219,829,000 after buying an additional 1,112,065 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Constellation Brands by 488.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock worth $231,093,000 after buying an additional 990,152 shares during the last quarter. Alliancebernstein L.P. increased its position in Constellation Brands by 87.9% during the second quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after buying an additional 786,726 shares during the last quarter. Farallon Capital Management LLC acquired a new position in Constellation Brands during the second quarter worth $135,760,000. Finally, Numeric Investors LLC increased its position in Constellation Brands by 2,217.6% during the second quarter. Numeric Investors LLC now owns 720,771 shares of the company’s stock worth $139,635,000 after buying an additional 689,671 shares during the last quarter. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
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.
