Constellation Brands (STZ) PT Raised to $226.00

Constellation Brands (NYSE:STZ) had its price target lifted by analysts at Credit Suisse Group from $211.00 to $226.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price objective suggests a potential upside of 4.22% from the company’s previous close.

A number of other research analysts also recently weighed in on STZ. 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. Wells Fargo & Co increased their target price on Constellation Brands from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Macquarie raised their price objective on Constellation Brands from $246.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective on the stock in a research note on Monday, December 18th. Finally, Evercore ISI raised their price objective on Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus target price of $227.70.

Shares of Constellation Brands (STZ) opened at $216.84 on Tuesday. Constellation Brands has a 12 month low of $146.71 and a 12 month high of $229.50. The company has a market capitalization of $42,410.00, a price-to-earnings ratio of 26.35, a PEG ratio of 1.42 and a beta of 0.08. The company has a quick ratio of 0.69, a current ratio of 1.61 and a debt-to-equity ratio of 1.01.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. Constellation Brands had a return on equity of 22.49% and a net margin of 22.55%. During the same period in the prior year, the company posted $1.96 earnings per share. equities research analysts anticipate that Constellation Brands will post 8.44 EPS for the current year.

Constellation Brands announced that its Board of Directors has authorized a share buyback plan 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. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Thomas J. Mullin sold 50,000 shares of Constellation Brands stock in a transaction on Monday, October 16th. The stock was sold at an average price of $209.45, for a total value of $10,472,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the transaction, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The disclosure for this sale can be found here. Insiders own 15.59% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in Constellation Brands by 4,909.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock valued at $219,829,000 after purchasing an additional 1,112,065 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Constellation Brands by 488.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock valued at $231,093,000 after purchasing an additional 990,152 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at about $135,760,000. Numeric Investors LLC grew its stake in Constellation Brands by 2,217.6% during the 2nd quarter. Numeric Investors LLC now owns 720,771 shares of the company’s stock valued at $139,635,000 after purchasing an additional 689,671 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of Constellation Brands in the 2nd quarter valued at about $70,971,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Constellation Brands (STZ) PT Raised to $226.00” was originally published by American Banking and Market News and is owned by of American Banking and Market News. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/09/constellation-brands-stz-pt-raised-to-226-00.html.

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.

Analyst Recommendations for Constellation Brands (NYSE:STZ)