Barclays began coverage on shares of Constellation Brands (NYSE:STZ) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $255.00 price target on the stock.
Other research analysts also recently issued reports about the company. Royal Bank of Canada reiterated a buy rating and set a $226.00 price objective on shares of Constellation Brands in a report on Sunday, November 12th. Pivotal Research increased their price objective on Constellation Brands from $250.00 to $265.00 and gave the stock a buy rating in a report on Thursday, October 5th. Stifel Nicolaus increased their price objective on Constellation Brands from $216.00 to $235.00 and gave the stock a buy rating in a report on Friday, October 6th. SunTrust Banks reiterated a buy rating and set a $230.00 price objective on shares of Constellation Brands in a report on Friday, October 6th. Finally, Deutsche Bank initiated coverage on Constellation Brands in a report on Wednesday, December 13th. They set a buy rating and a $244.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $229.00.
Shares of Constellation Brands (NYSE STZ) traded down $1.53 during trading on Wednesday, hitting $217.52. The company’s stock had a trading volume of 4,189,300 shares, compared to its average volume of 2,110,000. Constellation Brands has a 12 month low of $146.99 and a 12 month high of $229.50. The company has a market capitalization of $42,610.00, a P/E ratio of 26.43, a P/E/G ratio of 1.34 and a beta of 0.08. The company has a quick ratio of 0.69, a current ratio of 1.40 and a debt-to-equity ratio of 1.01.
Constellation Brands declared that its Board of Directors has approved a stock repurchase plan on Friday, January 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.96%. Constellation Brands’s dividend payout ratio (DPR) is presently 25.27%.
In related news, VP Thomas J. Mullin sold 50,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $209.45, for a total transaction of $10,472,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 18,227 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the transaction, the vice president now directly owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The disclosure for this sale can be found here. Corporate insiders own 15.59% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Veritable L.P. lifted its position in shares of Constellation Brands by 1.8% in the second quarter. Veritable L.P. now owns 3,447 shares of the company’s stock valued at $668,000 after buying an additional 61 shares during the last quarter. Princeton Portfolio Strategies Group LLC lifted its position in shares of Constellation Brands by 3.3% in the second quarter. Princeton Portfolio Strategies Group LLC now owns 2,352 shares of the company’s stock valued at $456,000 after buying an additional 75 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Constellation Brands by 1.4% in the second quarter. Thrivent Financial For Lutherans now owns 6,440 shares of the company’s stock valued at $1,248,000 after buying an additional 90 shares during the last quarter. WFG Advisors LP lifted its position in shares of Constellation Brands by 7.3% in the second quarter. WFG Advisors LP now owns 1,364 shares of the company’s stock valued at $264,000 after buying an additional 93 shares during the last quarter. Finally, Zacks Investment Management lifted its position in shares of Constellation Brands by 11.6% in the second quarter. Zacks Investment Management now owns 1,496 shares of the company’s stock valued at $290,000 after buying an additional 156 shares during the last quarter. 74.86% of the stock is owned by institutional investors.
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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