Needham & Company LLC restated their buy rating on shares of Constellation Brands (NYSE:STZ – Free Report) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $240.00 target price on the stock.
Other analysts also recently issued research reports about the company. StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. Barclays lowered their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI dropped their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $257.14.
Check Out Our Latest Report on STZ
Constellation Brands Stock Up 2.6 %
Constellation Brands (NYSE:STZ – Get Free Report) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 earnings per share. As a group, equities analysts predict that Constellation Brands will post 13.52 EPS for the current year.
Constellation Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio is 108.60%.
Insider Buying and Selling at Constellation Brands
In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,746 shares of company stock valued at $15,017,097 in the last quarter. Company insiders own 12.19% of the company’s stock.
Hedge Funds Weigh In On Constellation Brands
A number of institutional investors have recently modified their holdings of STZ. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands during the fourth quarter worth $28,000. Versant Capital Management Inc boosted its position in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares during the period. Eastern Bank bought a new stake in Constellation Brands during the 3rd quarter worth approximately $39,000. FSA Wealth Management LLC acquired a new position in Constellation Brands in the 3rd quarter valued at approximately $42,000. Finally, Truvestments Capital LLC bought a new position in shares of Constellation Brands during the third quarter valued at $60,000. Institutional investors and hedge funds own 77.34% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.
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