J P Morgan Chase & Co reissued their overweight rating on shares of Constellation Brands Inc (NYSE:STZ) in a report published on Friday. They currently have a $237.00 price objective on the stock, up from their previous price objective of $220.00.
Several other equities research analysts also recently weighed in on the company. Cowen and Company reaffirmed an outperform rating and set a $243.00 price target (up from $230.00) on shares of Constellation Brands in a research report on Friday. Evercore ISI reaffirmed an outperform rating and set a $235.00 price target (up from $230.00) on shares of Constellation Brands in a research report on Friday. Morgan Stanley increased their price target on Constellation Brands from $218.00 to $245.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank Of Canada increased their price target on Constellation Brands from $222.00 to $226.00 and gave the stock an outperform rating in a research report on Friday. Finally, Stifel Nicolaus increased their price target on Constellation Brands from $216.00 to $235.00 and gave the stock a buy rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $213.84.
Constellation Brands (NYSE:STZ) traded up 0.41% during mid-day trading on Friday, reaching $210.11. The company’s stock had a trading volume of 1,776,910 shares. The stock has a 50-day moving average price of $201.11 and a 200-day moving average price of $186.94. The company has a market capitalization of $41.06 billion, a price-to-earnings ratio of 24.14 and a beta of 0.04. Constellation Brands has a one year low of $144.00 and a one year high of $213.40. Constellation Brands also saw unusually large options trading on Wednesday. Investors acquired 8,867 put options on the stock. This is an increase of 667% compared to the typical daily volume of 1,156 put options.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.30. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a return on equity of 22.88% and a net margin of 22.04%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. Equities research analysts forecast that Constellation Brands will post $8.18 EPS for the current year.
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In related news, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total value of $10,665,213.00. Following the transaction, the vice president now directly owns 86,005 shares of the company’s stock, valued at approximately $16,727,972.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Eric Klein sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $195.50, for a total transaction of $977,500.00. Following the completion of the transaction, the executive vice president now directly owns 45,098 shares in the company, valued at $8,816,659. The disclosure for this sale can be found here. Insiders sold a total of 79,351 shares of company stock worth $15,484,172 over the last ninety days. 15.59% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. MPS Loria Financial Planners LLC purchased a new position in Constellation Brands in the 2nd quarter valued at about $157,000. W. E. Donoghue & Co. LLC purchased a new position in Constellation Brands in the 2nd quarter valued at about $2,385,000. Achmea Investment Management B.V. lifted its stake in Constellation Brands by 88.1% in the 2nd quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock valued at $1,808,000 after buying an additional 4,377 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Constellation Brands in the 2nd quarter valued at about $43,914,000. Finally, WFG Advisors LP lifted its stake in Constellation Brands by 7.3% in the 2nd quarter. WFG Advisors LP now owns 1,364 shares of the company’s stock valued at $264,000 after buying an additional 93 shares in the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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