Brokerages Set Constellation Brands, Inc. (STZ) Target Price at $246.25
Constellation Brands, Inc. (NYSE:STZ) has earned a consensus recommendation of “Buy” from the twenty-seven research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $246.25.
A number of equities research analysts have issued reports on STZ shares. Pivotal Research restated a “buy” rating and set a $285.00 price target on shares of Constellation Brands in a research note on Friday, June 29th. ValuEngine raised Constellation Brands from a “hold” rating to a “buy” rating in a research report on Thursday, June 28th. Deutsche Bank lowered their price objective on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Bank of America lowered their price objective on Constellation Brands from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Finally, Cann lowered their price objective on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sun Life Financial INC lifted its holdings in Constellation Brands by 155.3% in the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock worth $100,000 after purchasing an additional 278 shares in the last quarter. Clarus Wealth Advisors purchased a new position in Constellation Brands in the 2nd quarter worth approximately $111,000. Atlantic Trust LLC purchased a new position in Constellation Brands in the 2nd quarter worth approximately $114,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Constellation Brands by 227.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock worth $115,000 after purchasing an additional 366 shares in the last quarter. Finally, Stelac Advisory Services LLC purchased a new position in Constellation Brands in the 2nd quarter worth approximately $125,000. 73.49% of the stock is currently owned by institutional investors.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 4th. The company reported $2.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Constellation Brands had a return on equity of 19.81% and a net margin of 31.51%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. On average, sell-side analysts expect that Constellation Brands will post 9.29 earnings per share for the current fiscal year.
The firm 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. The ex-dividend date is Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a yield of 1.31%. Constellation Brands’s dividend payout ratio is presently 10.67%.
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.
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