Constellation Brands (NYSE:STZ) Receives New Coverage from Analysts at BMO Capital Markets

BMO Capital Markets started coverage on shares of Constellation Brands (NYSE:STZGet Rating) in a report issued on Tuesday, The Fly reports. The brokerage issued an outperform rating and a $290.00 price target on the stock.

STZ has been the subject of a number of other reports. TheStreet upgraded shares of Constellation Brands from a c+ rating to a b- rating in a research report on Thursday, April 28th. The Goldman Sachs Group reiterated a buy rating and set a $275.00 price objective on shares of Constellation Brands in a research report on Wednesday, June 29th. Morgan Stanley upped their price objective on shares of Constellation Brands from $294.00 to $298.00 and gave the stock an overweight rating in a research report on Tuesday, June 21st. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $278.00 to $276.00 and set an overweight rating for the company in a research report on Monday, April 4th. Finally, Credit Suisse Group decreased their price target on shares of Constellation Brands from $295.00 to $292.00 and set an outperform rating for the company in a research report on Friday, July 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $272.19.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $244.36 on Tuesday. The company has a 50 day moving average of $241.16 and a 200-day moving average of $237.15. Constellation Brands has a 1-year low of $207.35 and a 1-year high of $261.52. The company has a current ratio of 1.40, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market cap of $45.16 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02.

Constellation Brands (NYSE:STZGet Rating) last issued its quarterly earnings results on Thursday, June 30th. The company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Constellation Brands had a net margin of 12.72% and a return on equity of 17.19%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands will post 10.91 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Tuesday, August 9th. Constellation Brands’s dividend payout ratio (DPR) is 14.05%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 183,332 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $44,514,842.92. Following the transaction, the insider now directly owns 100 shares of the company’s stock, valued at $24,281. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Robert Sands sold 1,427,799 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $346,683,875.19. Following the completion of the sale, the insider now owns 550,214 shares in the company, valued at $133,597,461.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $242.81, for a total transaction of $44,514,842.92. Following the sale, the insider now owns 100 shares of the company’s stock, valued at approximately $24,281. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,612,813 shares of company stock valued at $391,613,819. Corporate insiders own 16.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Constellation Brands by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 181,594 shares of the company’s stock worth $42,322,000 after purchasing an additional 1,368 shares in the last quarter. UNIVEST FINANCIAL Corp increased its stake in shares of Constellation Brands by 0.9% in the second quarter. UNIVEST FINANCIAL Corp now owns 14,937 shares of the company’s stock worth $3,481,000 after purchasing an additional 129 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of Constellation Brands by 29.8% in the second quarter. Meridian Wealth Management LLC now owns 2,086 shares of the company’s stock worth $486,000 after purchasing an additional 479 shares in the last quarter. M&T Bank Corp increased its stake in shares of Constellation Brands by 14.3% in the second quarter. M&T Bank Corp now owns 106,616 shares of the company’s stock worth $22,516,000 after purchasing an additional 13,302 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Constellation Brands by 313.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,102 shares of the company’s stock worth $18,902,000 after purchasing an additional 61,492 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

About Constellation Brands

(Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

See Also

The Fly logo

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.