BMO Capital Markets Raises Constellation Brands (NYSE:STZ) Price Target to $230.00

Constellation Brands (NYSE:STZ) had its price target hoisted by BMO Capital Markets from $225.00 to $230.00 in a research report report published on Tuesday, The Fly reports. BMO Capital Markets currently has an outperform rating on the stock.

STZ has been the subject of a number of other research reports. Morgan Stanley raised their target price on Constellation Brands from $207.00 to $217.00 and gave the company an equal weight rating in a report on Tuesday, July 2nd. SunTrust Banks raised their target price on Constellation Brands from $180.00 to $190.00 and gave the company a hold rating in a report on Monday, July 1st. Jefferies Financial Group raised their target price on Constellation Brands from $264.00 to $274.00 and gave the company a buy rating in a report on Monday, July 1st. Evercore ISI set a $220.00 target price on Constellation Brands and gave the company a buy rating in a report on Friday, August 9th. Finally, Macquarie set a $220.00 target price on Constellation Brands and gave the company a hold rating in a report on Wednesday, June 5th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of Buy and an average target price of $224.43.

Constellation Brands stock opened at $207.34 on Tuesday. Constellation Brands has a one year low of $150.37 and a one year high of $228.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22. The business has a fifty day moving average of $200.05 and a two-hundred day moving average of $193.36. The company has a market cap of $39.42 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 3.09 and a beta of 0.69.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.15. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company earned $2.20 earnings per share. Constellation Brands’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands will post 8.35 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, August 12th. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.

In other news, major shareholder Richard Sands sold 95,521 shares of Constellation Brands stock in a transaction on Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the transaction, the insider now owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the transaction, the director now directly owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The disclosure for this sale can be found here. Insiders own 15.86% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Constellation Brands by 14.7% in the 1st quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after purchasing an additional 1,734,902 shares during the last quarter. Vanguard Group Inc. raised its stake in Constellation Brands by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,137,423 shares of the company’s stock valued at $2,390,344,000 after purchasing an additional 122,268 shares during the last quarter. Bank of America Corp DE raised its stake in Constellation Brands by 65.0% in the 2nd quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock valued at $697,895,000 after purchasing an additional 1,395,888 shares during the last quarter. Jennison Associates LLC raised its stake in Constellation Brands by 120.4% in the 2nd quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock valued at $537,087,000 after purchasing an additional 1,490,064 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Constellation Brands by 11.4% in the 2nd quarter. Janus Henderson Group PLC now owns 2,363,365 shares of the company’s stock valued at $465,445,000 after purchasing an additional 242,621 shares during the last quarter. 72.10% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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