Constellation Brands, Inc. (NYSE:STZ) Receives Average Rating of “Buy” from Brokerages

Constellation Brands, Inc. (NYSE:STZ) has been assigned a consensus recommendation of “Buy” from the twenty-six brokerages that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $223.76.

A number of research analysts recently weighed in on STZ shares. TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Thursday, October 3rd. Evercore ISI set a $220.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research report on Friday, August 9th. Credit Suisse Group dropped their price target on shares of Constellation Brands from $230.00 to $228.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. MKM Partners dropped their price target on shares of Constellation Brands to $256.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Argus raised their price target on shares of Constellation Brands to $230.00 and gave the company a “buy” rating in a research report on Monday, October 7th.

Shares of Constellation Brands stock traded up $6.07 during trading hours on Thursday, reaching $180.96. The company’s stock had a trading volume of 1,632,000 shares, compared to its average volume of 1,740,292. Constellation Brands has a one year low of $150.37 and a one year high of $214.48. The company has a market capitalization of $34.43 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.70 and a beta of 0.67. The stock’s fifty day simple moving average is $192.27 and its two-hundred day simple moving average is $196.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.61.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.12. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the firm earned $2.87 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts forecast that Constellation Brands will post 8.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.66%. Constellation Brands’s dividend payout ratio (DPR) is presently 10.02%.

In related news, major shareholder Richard Sands sold 95,521 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the sale, the insider now owns 173,379 shares in the company, valued at $35,468,142.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of STZ. Atlantic Union Bankshares Corp purchased a new position in shares of Constellation Brands in the second quarter worth about $1,221,000. Barry Investment Advisors LLC purchased a new position in shares of Constellation Brands in the second quarter worth about $202,000. Maverick Capital Ltd. increased its stake in shares of Constellation Brands by 22.0% in the second quarter. Maverick Capital Ltd. now owns 24,420 shares of the company’s stock worth $4,809,000 after purchasing an additional 4,410 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Constellation Brands by 0.8% in the second quarter. Eagle Asset Management Inc. now owns 354,503 shares of the company’s stock worth $69,815,000 after purchasing an additional 2,982 shares in the last quarter. Finally, Clearstead Advisors LLC purchased a new position in shares of Constellation Brands in the second quarter worth about $203,000. Institutional investors and hedge funds own 71.74% of the company’s stock.

About Constellation Brands

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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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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