Equities researchers at BMO Capital Markets initiated coverage on shares of Constellation Brands (NYSE:STZ) in a research report issued on Monday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Several other analysts also recently weighed in on STZ. Citigroup reissued a “neutral” rating and set a $232.00 target price (up previously from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. Evercore ISI boosted their target price on shares of Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Barclays assumed coverage on shares of Constellation Brands in a research report on Wednesday, January 10th. They set an “overweight” rating and a $255.00 target price on the stock. Susquehanna Bancshares set a $207.00 target price on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Monday, January 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $250.00 price objective (up from $230.00) on shares of Constellation Brands in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $232.80.
Constellation Brands (NYSE:STZ) traded down $4.89 during trading hours on Monday, reaching $211.00. 1,992,592 shares of the company’s stock traded hands, compared to its average volume of 2,481,898. The stock has a market cap of $41,880.00, a P/E ratio of 25.64, a PEG ratio of 1.33 and a beta of 0.11. Constellation Brands has a 12 month low of $148.38 and a 12 month high of $229.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 1.40.
Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.13. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. During the same quarter in the previous year, the firm earned $1.96 EPS. research analysts anticipate that Constellation Brands will post 8.53 earnings per share for the current fiscal year.
Constellation Brands announced that its board has approved a stock repurchase plan on Friday, January 5th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, VP Thomas J. Mullin sold 18,227 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the sale, the vice president now directly owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry A. Fromberg sold 2,005 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total transaction of $441,942.10. Following the sale, the director now directly owns 20,790 shares in the company, valued at $4,582,531.80. The disclosure for this sale can be found here. 15.59% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Calton & Associates Inc. purchased a new stake in Constellation Brands during the fourth quarter worth $153,000. Huntington National Bank boosted its holdings in Constellation Brands by 1.4% during the fourth quarter. Huntington National Bank now owns 203,663 shares of the company’s stock worth $46,550,000 after buying an additional 2,833 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in Constellation Brands by 4.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 31,993 shares of the company’s stock worth $7,313,000 after acquiring an additional 1,220 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Constellation Brands during the fourth quarter worth $923,000. Finally, Parsons Capital Management Inc. RI acquired a new position in Constellation Brands during the fourth quarter worth $752,000. 75.45% 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.