Zacks Investment Research upgraded shares of Constellation Brands Inc (NYSE:STZ) from a hold rating to a buy rating in a research report report published on Thursday morning. The brokerage currently has $207.00 target price on the stock.
According to Zacks, “Constellation Brands has outperformed the broader industry in the last three months. The company boasts a portfolio of popular brands and is the largest wine company worldwide, which bolsters its market position. The company’s focus on brand building and efforts to include new products in its wine and spirits portfolio remain key growth drivers. Also, it remains committed to expanding operations to stimulate business growth, as evident from its various buyouts. These factors, coupled with strong beer business helped the company to post its tenth and eighth straight earnings and sales beat, respectively in the last reported quarter. Also, management issued an impressive fiscal 2018 view, alongside announcing a dividend hike thereafter. However, the recent sale of the Canadian wine business is likely to hurt results to an extent. Also, stiff competition, currency fluctuations and the risk of increasing taxes remain concerns.”
STZ has been the subject of several other research reports. OTR Global lowered shares of Constellation Brands to a positive rating in a report on Tuesday, March 28th. J P Morgan Chase & Co started coverage on shares of Constellation Brands in a report on Tuesday, March 21st. They set an overweight rating and a $183.00 price target for the company. Royal Bank Of Canada restated a buy rating and set a $183.00 price target on shares of Constellation Brands in a report on Friday, March 31st. Vetr upgraded shares of Constellation Brands from a hold rating to a buy rating and set a $163.75 price target for the company in a report on Thursday, February 23rd. Finally, Wells Fargo & Company restated an outperform rating on shares of Constellation Brands in a report on Monday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $188.87.
Shares of Constellation Brands (NYSE STZ) opened at 182.28 on Thursday. The company has a market cap of $35.51 billion, a P/E ratio of 24.24 and a beta of 0.31. Constellation Brands has a 52 week low of $144.00 and a 52 week high of $186.55. The firm has a 50-day moving average of $180.78 and a 200 day moving average of $163.88.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. Constellation Brands had a net margin of 19.04% and a return on equity of 19.69%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business earned $1.19 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands will post $7.94 earnings per share for the current fiscal year.
In other news, Director Barry A. Fromberg sold 700 shares of Constellation Brands stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $170.03, for a total value of $119,021.00. Following the completion of the sale, the director now owns 21,520 shares in the company, valued at approximately $3,659,045.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas J. Mullin sold 39,854 shares of Constellation Brands stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $169.55, for a total transaction of $6,757,245.70. Following the completion of the sale, the vice president now owns 48,900 shares of the company’s stock, valued at approximately $8,290,995. The disclosure for this sale can be found here. Insiders sold a total of 61,244 shares of company stock valued at $10,445,048 in the last quarter. 15.59% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares during the last quarter. Tompkins Financial Corp increased its stake in Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock valued at $116,000 after buying an additional 175 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Constellation Brands during the first quarter valued at about $117,000. Hanson McClain Inc. increased its stake in Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in Constellation Brands during the first quarter valued at about $130,000. 76.79% of the stock is owned by institutional investors and hedge funds.
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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