Todays Report: The Constellation Brands’ (STZ) Overweight Rating Reaffirmed at Morgan Stanley

The Constellation Brands’ (STZ) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Constellation Brands Inc. (NYSE:STZ) in a report released on Saturday. They currently have a $194.00 price objective on the stock, up from their previous price objective of $191.00.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Constellation Brands from a hold rating to a buy rating and set a $186.00 target price on the stock in a research report on Friday, September 16th. Goldman Sachs Group Inc. restated a buy rating on shares of Constellation Brands in a research report on Friday, July 15th. Wells Fargo & Co. restated a buy rating on shares of Constellation Brands in a research report on Thursday, June 30th. RBC Capital Markets set a $181.00 target price on Constellation Brands and gave the stock a buy rating in a research report on Wednesday, September 28th. Finally, Bank of America Corp. restated a buy rating and set a $185.00 target price on shares of Constellation Brands in a research report on Friday, September 30th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $176.75.

Shares of Constellation Brands (NYSE:STZ) opened at 168.84 on Friday. The company has a market cap of $33.85 billion, a price-to-earnings ratio of 30.42 and a beta of 0.63. Constellation Brands has a 12 month low of $130.23 and a 12 month high of $173.55. The company’s 50-day moving average price is $165.62 and its 200-day moving average price is $160.44.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.65 by $0.12. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The business had revenue of $2.02 billion for the quarter. During the same quarter in the previous year, the company posted $1.56 EPS. Constellation Brands’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts anticipate that Constellation Brands will post $6.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. Constellation Brands’s dividend payout ratio is currently 27.49%.

In other news, VP Thomas J. Mullin sold 9,516 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the completion of the sale, the vice president now directly owns 88,602 shares in the company, valued at $14,745,144.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP F Paul Hetterich sold 10,000 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the sale, the vice president now owns 61,404 shares of the company’s stock, valued at $10,107,098.40. The disclosure for this sale can be found here. Insiders own 10.63% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA raised its stake in Constellation Brands by 505.7% in the first quarter. Glenmede Trust Co. NA now owns 5,300 shares of the company’s stock worth $800,000 after buying an additional 4,425 shares in the last quarter. Prudential Financial Inc. raised its stake in Constellation Brands by 3.5% in the first quarter. Prudential Financial Inc. now owns 223,451 shares of the company’s stock worth $33,762,000 after buying an additional 7,580 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Constellation Brands during the first quarter worth $165,000. Palisade Capital Management LLC NJ raised its stake in Constellation Brands by 243.2% in the first quarter. Palisade Capital Management LLC NJ now owns 20,000 shares of the company’s stock worth $3,022,000 after buying an additional 14,172 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Constellation Brands during the first quarter worth $576,000. Institutional investors own 75.05% of the company’s stock.

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