Constellation Brands Target of Unusually Large Options Trading (NYSE:STZ)

Constellation Brands, Inc. (NYSE:STZ) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 9,551 put options on the stock. This is an increase of approximately 858% compared to the typical daily volume of 997 put options.

Shares of Constellation Brands stock opened at $174.95 on Wednesday. The firm has a market capitalization of $33.59 billion, a P/E ratio of -971.89, a P/E/G ratio of 3.07 and a beta of 0.92. Constellation Brands has a 52 week low of $104.28 and a 52 week high of $212.00. The company has a quick ratio of 0.91, a current ratio of 1.51 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average is $173.20 and its two-hundred day moving average is $173.57.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, April 3rd. The company reported $2.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.42. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a negative net margin of 0.13% and a positive return on equity of 14.61%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 earnings per share. As a group, research analysts expect that Constellation Brands will post 8.37 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in shares of Constellation Brands by 0.8% during the first quarter. State Street Corp now owns 7,560,037 shares of the company’s stock worth $1,083,807,000 after acquiring an additional 63,069 shares during the last quarter. Telemus Capital LLC grew its position in shares of Constellation Brands by 505.5% during the first quarter. Telemus Capital LLC now owns 18,517 shares of the company’s stock worth $3,198,000 after acquiring an additional 15,459 shares during the last quarter. Optimal Asset Management Inc. grew its position in shares of Constellation Brands by 88.9% during the first quarter. Optimal Asset Management Inc. now owns 23,126 shares of the company’s stock worth $3,315,000 after acquiring an additional 10,883 shares during the last quarter. National Pension Service grew its position in shares of Constellation Brands by 1.3% during the first quarter. National Pension Service now owns 224,942 shares of the company’s stock worth $32,248,000 after acquiring an additional 2,909 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Constellation Brands by 3.8% during the first quarter. The Manufacturers Life Insurance Company now owns 615,162 shares of the company’s stock worth $88,189,000 after acquiring an additional 22,431 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

STZ has been the topic of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $215.00 price target on shares of Constellation Brands in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their target price on shares of Constellation Brands from $163.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $216.00 target price on shares of Constellation Brands in a report on Thursday, June 4th. Credit Suisse Group reduced their target price on shares of Constellation Brands from $233.00 to $197.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Finally, Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a report on Monday, June 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $192.14.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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