Constellation Brands (NYSE:STZ) had its target price boosted by Wells Fargo & Co from $235.00 to $260.00 in a research note issued to investors on Thursday. Wells Fargo & Co currently has an outperform rating on the stock.
Several other equities analysts have also recently weighed in on the company. Morgan Stanley raised their price target on Constellation Brands from $218.00 to $245.00 and gave the company an overweight rating in a report on Friday, October 6th. Macquarie raised their price target on Constellation Brands from $246.00 to $250.00 and gave the company an outperform rating in a report on Wednesday. Zacks Investment Research upgraded Constellation Brands from a hold rating to a buy rating and set a $249.00 price target for the company in a report on Monday, December 18th. Royal Bank of Canada restated a buy rating and set a $226.00 price target on shares of Constellation Brands in a report on Sunday, November 12th. Finally, Evercore ISI restated an outperform rating and set a $235.00 price target (up previously from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Constellation Brands presently has a consensus rating of Buy and a consensus price target of $224.80.
Constellation Brands (NYSE:STZ) traded down $5.60 during trading hours on Thursday, hitting $220.19. The company had a trading volume of 8,304,280 shares, compared to its average volume of 1,370,000. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69. Constellation Brands has a 12-month low of $144.00 and a 12-month high of $229.50. The stock has a market capitalization of $42,850.00, a PE ratio of 28.16, a P/E/G ratio of 1.46 and a beta of 0.08.
In other news, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $209.45, for a total value of $10,472,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total value of $520,000.00. The disclosure for this sale can be found here. Insiders sold a total of 73,662 shares of company stock valued at $15,564,585 over the last ninety days. Corporate insiders own 15.59% of the company’s stock.
Several hedge funds have recently modified their holdings of STZ. Robeco Institutional Asset Management B.V. lifted its stake in shares of Constellation Brands by 38.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 7,989 shares of the company’s stock worth $1,548,000 after acquiring an additional 2,220 shares during the last quarter. Keybank National Association OH lifted its stake in shares of Constellation Brands by 29.5% during the 2nd quarter. Keybank National Association OH now owns 4,700 shares of the company’s stock worth $911,000 after acquiring an additional 1,071 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Constellation Brands by 50.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after acquiring an additional 193 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Constellation Brands by 7.6% during the 2nd quarter. Synovus Financial Corp now owns 1,295 shares of the company’s stock worth $250,000 after acquiring an additional 91 shares during the last quarter. Finally, Tredje AP fonden lifted its stake in shares of Constellation Brands by 33.0% during the 2nd quarter. Tredje AP fonden now owns 15,784 shares of the company’s stock worth $3,058,000 after acquiring an additional 3,920 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
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About Constellation Brands
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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