Constellation Brands’ (STZ) Top Pick Rating Reiterated at Cowen

Cowen reiterated their top pick rating on shares of Constellation Brands (NYSE:STZ) in a report issued on Thursday morning, The Fly reports.

Several other brokerages have also commented on STZ. Jefferies Financial Group reaffirmed a buy rating and issued a $289.00 price target on shares of Constellation Brands in a research note on Wednesday, October 17th. Morgan Stanley set a $259.00 price target on Constellation Brands and gave the stock a buy rating in a report on Tuesday, October 16th. Citigroup upped their price target on Constellation Brands from $235.00 to $240.00 and gave the stock a hold rating in a report on Wednesday, October 10th. Zacks Investment Research upgraded Constellation Brands from a strong sell rating to a hold rating in a report on Tuesday, October 16th. Finally, ValuEngine upgraded Constellation Brands from a hold rating to a buy rating in a report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $228.09.

Shares of Constellation Brands stock opened at $159.21 on Thursday. Constellation Brands has a 52 week low of $150.37 and a 52 week high of $236.62. The firm has a market capitalization of $28.60 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.57 and a beta of 0.38. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, January 9th. The company reported $2.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.33. Constellation Brands had a return on equity of 18.27% and a net margin of 35.27%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company posted $2.00 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Constellation Brands will post 9.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Tuesday, February 12th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, February 11th. Constellation Brands’s payout ratio is currently 10.67%.

In other Constellation Brands news, CEO Robert Sands sold 151,060 shares of the firm’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $223.67, for a total transaction of $33,787,590.20. Following the completion of the transaction, the chief executive officer now owns 737,607 shares of the company’s stock, valued at $164,980,557.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Michael Kane sold 4,419 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $223.83, for a total value of $989,104.77. Following the transaction, the vice president now directly owns 8,499 shares of the company’s stock, valued at approximately $1,902,331.17. The disclosure for this sale can be found here. Insiders sold a total of 578,723 shares of company stock valued at $129,438,449 over the last ninety days. 15.80% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Carroll Financial Associates Inc. increased its position in Constellation Brands by 132.0% during the fourth quarter. Carroll Financial Associates Inc. now owns 283 shares of the company’s stock worth $48,000 after buying an additional 161 shares in the last quarter. Atlantic Trust LLC acquired a new stake in shares of Constellation Brands during the second quarter worth $114,000. TLP Group LLC acquired a new stake in shares of Constellation Brands during the third quarter worth $136,000. Truvestments Capital LLC acquired a new stake in shares of Constellation Brands during the third quarter worth $137,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Constellation Brands by 49.3% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock worth $170,000 after purchasing an additional 260 shares during the last quarter. 72.56% of the stock is owned by institutional investors.

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.

Further Reading: Cost of Equity

The Fly

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