Constellation Brands, Inc. (NYSE:STZ) has been given an average recommendation of “Buy” by the twenty-six ratings firms that are currently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $223.86.
A number of brokerages recently commented on STZ. Morgan Stanley upped their target price on Constellation Brands from $217.00 to $227.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 target price for the company in a research note on Monday. Evercore ISI set a $220.00 target price on Constellation Brands and gave the company a “buy” rating in a research note on Friday, August 9th. Barclays restated a “buy” rating and issued a $238.00 target price on shares of Constellation Brands in a research note on Tuesday, July 2nd. Finally, Macquarie set a $220.00 target price on Constellation Brands and gave the company a “hold” rating in a research note on Wednesday, June 5th.
Shares of NYSE STZ traded down $0.23 during trading hours on Wednesday, reaching $204.81. The stock had a trading volume of 118,623 shares, compared to its average volume of 925,413. The business’s fifty day moving average is $201.19 and its two-hundred day moving average is $194.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.22 and a quick ratio of 0.71. The company has a market cap of $39.29 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 3.07 and a beta of 0.69. Constellation Brands has a twelve month low of $150.37 and a twelve month high of $228.91.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.75 dividend. The ex-dividend date was Monday, August 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.
In other news, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the completion of the sale, the director now directly owns 27,630 shares in the company, valued at $5,452,780.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Richard Sands sold 95,521 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the sale, the insider now owns 173,379 shares of the company’s stock, valued at $35,468,142.03. The disclosure for this sale can be found here. Company insiders own 15.86% of the company’s stock.
Several large investors have recently made changes to their positions in STZ. Mosaic Family Wealth LLC acquired a new stake in shares of Constellation Brands during the first quarter worth about $27,000. Meeder Asset Management Inc. raised its position in shares of Constellation Brands by 2,750.0% during the second quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 165 shares during the period. Gradient Investments LLC raised its position in shares of Constellation Brands by 265.3% during the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares during the period. Next Capital Management LLC acquired a new stake in shares of Constellation Brands during the second quarter worth about $35,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Constellation Brands during the first quarter worth about $39,000. Institutional investors own 72.10% 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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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