Macquarie Reiterates $245.00 Price Target for Constellation Brands (STZ)

Macquarie set a $245.00 target price on Constellation Brands (NYSE:STZ) in a research report report published on Friday morning. The firm currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on STZ. Stifel Nicolaus cut their target price on shares of Constellation Brands from $230.00 to $224.00 and set a hold rating on the stock in a report on Monday, July 2nd. ValuEngine upgraded shares of Constellation Brands from a hold rating to a buy rating in a report on Thursday, June 28th. Barclays set a $257.00 target price on shares of Constellation Brands and gave the stock a buy rating in a report on Friday. Bank of America raised their target price on shares of Constellation Brands from $235.00 to $240.00 and gave the stock a buy rating in a report on Friday. Finally, Wells Fargo & Co raised their target price on shares of Constellation Brands from $270.00 to $275.00 and gave the stock an outperform rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $246.18.

Shares of Constellation Brands stock opened at $228.67 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.89. Constellation Brands has a 52-week low of $198.85 and a 52-week high of $236.62. The company has a market capitalization of $41.23 billion, a PE ratio of 26.22, a PEG ratio of 2.13 and a beta of 0.01.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.27. Constellation Brands had a net margin of 31.51% and a return on equity of 19.81%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the business earned $2.47 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. As a group, analysts predict that Constellation Brands will post 9.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.29%. The ex-dividend date is Monday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 10.67%.

A number of large investors have recently added to or reduced their stakes in STZ. Jennison Associates LLC boosted its holdings in Constellation Brands by 344.8% in the second quarter. Jennison Associates LLC now owns 2,101,846 shares of the company’s stock valued at $460,031,000 after acquiring an additional 1,629,361 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in Constellation Brands by 229.3% in the second quarter. Standard Life Aberdeen plc now owns 748,508 shares of the company’s stock valued at $164,208,000 after acquiring an additional 521,174 shares in the last quarter. BlackRock Inc. boosted its holdings in Constellation Brands by 3.0% in the second quarter. BlackRock Inc. now owns 11,987,700 shares of the company’s stock valued at $2,623,747,000 after acquiring an additional 345,735 shares in the last quarter. 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 valued at $1,306,489,000 after acquiring an additional 337,338 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Constellation Brands by 17.3% in the second quarter. Bank of America Corp DE now owns 2,001,752 shares of the company’s stock valued at $438,124,000 after acquiring an additional 295,598 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

About Constellation Brands

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.

Recommended Story: Why do earnings reports matter?

Analyst Recommendations for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply