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.
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
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