Jefferies Financial Group Weighs in on Constellation Brands, Inc.’s Q3 2021 Earnings (NYSE:STZ)

Constellation Brands, Inc. (NYSE:STZ) – Research analysts at Jefferies Financial Group lifted their Q3 2021 earnings estimates for Constellation Brands in a report issued on Monday, September 14th. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings per share of $2.53 for the quarter, up from their prior forecast of $2.22. Jefferies Financial Group has a “Buy” rating and a $238.00 price objective on the stock.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.29. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company earned $2.21 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year.

Other research analysts also recently issued reports about the company. HSBC increased their price objective on Constellation Brands from $147.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley increased their price objective on Constellation Brands from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Thursday, July 2nd. Cowen increased their price objective on Constellation Brands from $160.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. UBS Group increased their price objective on Constellation Brands from $192.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. upped their target price on Constellation Brands from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $197.32.

NYSE STZ opened at $193.20 on Wednesday. The business has a fifty day moving average price of $181.43 and a 200 day moving average price of $169.38. Constellation Brands has a one year low of $104.28 and a one year high of $210.65. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.94. The company has a market cap of $37.26 billion, a P/E ratio of 1,073.39, a P/E/G ratio of 2.07 and a beta of 0.97.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, August 10th. Constellation Brands’s dividend payout ratio is presently 10.20%.

In related news, Chairman Robert Sands sold 172,369 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $180.40, for a total transaction of $31,095,367.60. Following the completion of the transaction, the chairman now directly owns 616,148 shares in the company, valued at approximately $111,153,099.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Richard Sands sold 638,407 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $180.12, for a total value of $114,989,868.84. Following the transaction, the insider now owns 249,763 shares of the company’s stock, valued at $44,987,311.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,052,364 shares of company stock valued at $189,856,440. Company insiders own 15.77% of the company’s stock.

A number of institutional investors have recently made changes to their positions in STZ. Capital Research Global Investors boosted its holdings in Constellation Brands by 35.4% during the 1st quarter. Capital Research Global Investors now owns 12,313,886 shares of the company’s stock valued at $1,765,321,000 after acquiring an additional 3,217,357 shares during the period. Wellington Management Group LLP boosted its holdings in Constellation Brands by 32.1% during the 1st quarter. Wellington Management Group LLP now owns 2,920,282 shares of the company’s stock valued at $418,651,000 after acquiring an additional 709,541 shares during the period. FMR LLC boosted its holdings in Constellation Brands by 64.3% during the 2nd quarter. FMR LLC now owns 1,335,775 shares of the company’s stock valued at $233,694,000 after acquiring an additional 522,569 shares during the period. Valinor Management L.P. purchased a new position in Constellation Brands during the 1st quarter valued at about $62,507,000. Finally, Evercore Wealth Management LLC boosted its holdings in Constellation Brands by 9,586.4% during the 2nd quarter. Evercore Wealth Management LLC now owns 252,137 shares of the company’s stock valued at $44,112,000 after acquiring an additional 249,534 shares during the period. Institutional investors own 71.77% of the company’s stock.

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. 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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Earnings History and Estimates for Constellation Brands (NYSE:STZ)

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