Analysts Set Constellation Brands, Inc. (STZ) Price Target at $246.72

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Constellation Brands, Inc. (NYSE:STZ) has received a consensus rating of “Buy” from the twenty-seven brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $246.72.

Several brokerages recently weighed in on STZ. Jefferies Financial Group reissued a “buy” rating and issued a $289.00 price objective on shares of Constellation Brands in a report on Wednesday, October 17th. Morgan Stanley set a $259.00 target price on Constellation Brands and gave the company a “buy” rating in a research note on Tuesday, October 16th. Citigroup lifted their target price on Constellation Brands from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Wednesday, October 10th. Zacks Investment Research upgraded Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, ValuEngine upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research note on Friday, October 12th.

Shares of NYSE STZ opened at $204.00 on Friday. Constellation Brands has a 1 year low of $196.26 and a 1 year high of $236.62. The stock has a market cap of $38.14 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.95 and a beta of 0.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.76 and a current ratio of 1.66.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. Equities research analysts anticipate that Constellation Brands will post 9.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, November 5th. Constellation Brands’s dividend payout ratio is currently 33.94%.

In other news, CEO Robert Sands sold 151,060 shares of the business’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $223.67, for a total transaction of $33,787,590.20. Following the transaction, the chief executive officer now directly owns 737,607 shares in the company, valued at approximately $164,980,557.69. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Richard Sands sold 148,773 shares of the business’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the transaction, the chairman now owns 346,525 shares in the company, valued at $77,514,177.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 578,723 shares of company stock worth $129,438,449. 15.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. New England Research & Management Inc. bought a new stake in Constellation Brands in the third quarter worth $634,000. Toth Financial Advisory Corp boosted its holdings in Constellation Brands by 1,469.8% in the second quarter. Toth Financial Advisory Corp now owns 675 shares of the company’s stock worth $148,000 after purchasing an additional 632 shares in the last quarter. Arrow Financial Corp boosted its holdings in Constellation Brands by 4.0% in the second quarter. Arrow Financial Corp now owns 8,946 shares of the company’s stock worth $1,958,000 after purchasing an additional 341 shares in the last quarter. HRT Financial LLC boosted its holdings in Constellation Brands by 71.3% in the second quarter. HRT Financial LLC now owns 22,518 shares of the company’s stock worth $4,928,000 after purchasing an additional 9,374 shares in the last quarter. Finally, FMR LLC boosted its holdings in Constellation Brands by 6.0% in the second quarter. FMR LLC now owns 5,969,243 shares of the company’s stock worth $1,306,489,000 after purchasing an additional 337,338 shares in the last quarter. Institutional investors and hedge funds own 73.90% of the company’s stock.

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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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