Constellation Brands (NYSE:STZ) Shares Gap Down to $234.94

Constellation Brands, Inc. (NYSE:STZ)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $234.94, but opened at $226.06. Constellation Brands shares last traded at $223.44, with a volume of 26,349 shares trading hands.

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Constellation Brands from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 8th. UBS Group boosted their price objective on shares of Constellation Brands from $238.00 to $256.00 and gave the stock a “buy” rating in a research note on Friday, January 8th. Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and set a $242.00 price objective for the company. in a research note on Monday, January 11th. Wells Fargo & Company boosted their price objective on shares of Constellation Brands from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, January 8th. Finally, Smith Barney Citigroup boosted their price objective on shares of Constellation Brands from $220.00 to $244.00 in a research note on Friday, January 8th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and a consensus price target of $237.30.

The company has a current ratio of 1.69, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average is $226.59 and its two-hundred day moving average is $210.15. The stock has a market cap of $43.12 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 3.15 and a beta of 1.12.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, January 6th. The company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.68. Constellation Brands had a net margin of 21.63% and a return on equity of 16.09%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, analysts predict that Constellation Brands, Inc. will post 9.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 18th. Investors of record on Tuesday, May 4th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.37%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.75. Constellation Brands’s dividend payout ratio is 10.20%.

In other news, EVP Robert Lee Hanson sold 6,101 shares of the stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $228.78, for a total value of $1,395,786.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.77% of the company’s stock.

A number of large investors have recently made changes to their positions in STZ. Eudaimonia Partners LLC acquired a new stake in Constellation Brands during the 3rd quarter worth $27,000. Paces Ferry Wealth Advisors LLC acquired a new stake in Constellation Brands during the 3rd quarter worth $32,000. Safeguard Investment Advisory Group LLC acquired a new stake in Constellation Brands during the 4th quarter worth $33,000. Greenhouse Wealth Management LLC purchased a new position in Constellation Brands during the 4th quarter worth $35,000. Finally, Chiron Capital Management LLC purchased a new position in Constellation Brands during the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Constellation Brands Company Profile (NYSE:STZ)

Constellation Brands, Inc engages in the production, marketing and distribution of beer, wine and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine and dessert wine-and across all price points.

Read More: Hold Rating

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.