Wells Fargo & Co reissued their outperform rating on shares of Constellation Brands (NYSE:STZ) in a report published on Thursday morning, The Fly reports. The firm currently has a $235.00 price target on the stock, down from their previous price target of $260.00.
A number of other analysts have also commented on the stock. Goldman Sachs Group raised shares of Constellation Brands from a neutral rating to a buy rating and set a $211.00 price objective on the stock in a research report on Thursday. SunTrust Banks reissued a hold rating on shares of Constellation Brands in a research report on Thursday. Citigroup cut their price objective on shares of Constellation Brands to $168.00 and set a neutral rating on the stock in a research report on Thursday. Cowen reissued a top pick rating on shares of Constellation Brands in a research report on Thursday. Finally, Jefferies Financial Group reissued a buy rating and issued a $283.00 price objective on shares of Constellation Brands in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $228.09.
Shares of Constellation Brands stock traded down $0.72 on Thursday, hitting $159.21. The company had a trading volume of 3,834,953 shares, compared to its average volume of 5,391,411. The stock has a market capitalization of $28.60 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.57 and a beta of 0.38. Constellation Brands has a twelve month low of $150.37 and a twelve month high of $236.62. The company has a quick ratio of 0.76, a current ratio of 1.66 and a debt-to-equity ratio of 0.80.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.33. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Constellation Brands had a net margin of 35.27% and a return on equity of 18.27%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 earnings per share. Equities analysts anticipate that Constellation Brands will post 9.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, February 11th. Constellation Brands’s dividend payout ratio (DPR) is currently 10.67%.
In other Constellation Brands news, Chairman Richard Sands sold 137,924 shares of the company’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $223.66, for a total value of $30,848,081.84. Following the transaction, the chairman now directly owns 346,525 shares in the company, valued at $77,503,781.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas Michael Kane sold 4,419 shares of the company’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $223.83, for a total transaction of $989,104.77. Following the completion of the transaction, the vice president now owns 8,499 shares in the company, valued at $1,902,331.17. The disclosure for this sale can be found here. Insiders have sold 578,723 shares of company stock worth $129,438,449 over the last ninety days. Insiders own 15.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Cullinan Associates Inc. increased its holdings in shares of Constellation Brands by 75.1% in the fourth quarter. Cullinan Associates Inc. now owns 13,563 shares of the company’s stock valued at $2,181,000 after purchasing an additional 5,817 shares during the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Constellation Brands by 132.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 283 shares of the company’s stock valued at $48,000 after purchasing an additional 161 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of Constellation Brands by 294.9% in the fourth quarter. First Hawaiian Bank now owns 5,560 shares of the company’s stock valued at $894,000 after purchasing an additional 4,152 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at $238,000. Finally, Retirement Systems of Alabama increased its holdings in shares of Constellation Brands by 52.7% in the fourth quarter. Retirement Systems of Alabama now owns 170,112 shares of the company’s stock valued at $27,357,000 after purchasing an additional 58,700 shares during the last quarter. Hedge funds and other institutional investors own 72.56% of the company’s stock.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
Featured Article: What does cost of debt say about a company’s financial health?
Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.