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.
About Constellation Brands