The RBC Capital Markets Reaffirms Outperform Rating for Constellation Brands Inc. (STZ)

The RBC Capital Markets Reaffirms Outperform Rating for Constellation Brands Inc. (STZ)

RBC Capital Markets reiterated their outperform rating on shares of Constellation Brands Inc. (NYSE:STZ) in a report released on Wednesday morning. The brokerage currently has a $181.00 target price on the stock.

A number of other research firms have also recently weighed in on STZ. Zacks Investment Research cut Constellation Brands from a buy rating to a hold rating in a research report on Tuesday, September 6th. Wells Fargo & Co. reissued an outperform rating and issued a $185.00 price target on shares of Constellation Brands in a report on Wednesday, July 6th. Credit Agricole SA reissued an outperform rating on shares of Constellation Brands in a report on Monday, August 22nd. Bank of America Corp. reissued a buy rating and issued a $185.00 price target on shares of Constellation Brands in a report on Friday, September 30th. Finally, Susquehanna reissued a hold rating and issued a $155.00 price target on shares of Constellation Brands in a report on Sunday, July 17th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $181.25.

Shares of Constellation Brands (NYSE:STZ) opened at 168.84 on Wednesday. The stock’s 50 day moving average price is $165.62 and its 200-day moving average price is $160.44. The stock 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 1-year low of $130.23 and a 1-year high of $173.55.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $2.02 billion for the quarter. During the same period in the previous year, the firm earned $1.56 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands will post $6.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, November 4th. Constellation Brands’s dividend payout ratio (DPR) is presently 27.49%.

In other Constellation Brands news, VP Thomas Michael Kane sold 7,000 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $163.26, for a total value of $1,142,820.00. Following the completion of the sale, the vice president now directly owns 8,764 shares in the company, valued at approximately $1,430,810.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William F. Hackett sold 8,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total value of $1,317,360.00. Following the completion of the sale, the executive vice president now owns 54,934 shares of the company’s stock, valued at $9,045,981.78. The disclosure for this sale can be found here. 10.63% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of STZ. Canada Pension Plan Investment Board boosted its stake in shares of Constellation Brands by 237.7% in the first quarter. Canada Pension Plan Investment Board now owns 76,011 shares of the company’s stock valued at $11,485,000 after buying an additional 53,500 shares in the last quarter. Credit Agricole S A boosted its stake in shares of Constellation Brands by 18.7% in the first quarter. Credit Agricole S A now owns 204,617 shares of the company’s stock valued at $30,914,000 after buying an additional 32,218 shares in the last quarter. Aviva PLC boosted its stake in shares of Constellation Brands by 3.6% in the first quarter. Aviva PLC now owns 85,493 shares of the company’s stock valued at $12,917,000 after buying an additional 2,965 shares in the last quarter. Investec Asset Management LTD purchased a new stake in shares of Constellation Brands during the first quarter valued at $5,101,000. Finally, M&T Bank Corp boosted its stake in shares of Constellation Brands by 57.7% in the first quarter. M&T Bank Corp now owns 25,328 shares of the company’s stock valued at $3,828,000 after buying an additional 9,272 shares in the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

Constellation Brands Company Profile

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