Constellation Brands (NYSE:STZ) Receives New Coverage from Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Constellation Brands (NYSE:STZ – Get Rating) in a report published on Tuesday, The Fly reports. The firm issued an outperform rating and a $290.00 price target on the stock.

Several other analysts also recently commented on the company. Morgan Stanley increased their target price on Constellation Brands from $294.00 to $298.00 and gave the company an overweight rating in a research note on Tuesday, June 21st. Redburn Partners began coverage on Constellation Brands in a research note on Wednesday, July 13th. They set a buy rating on the stock. JPMorgan Chase & Co. cut their target price on Constellation Brands from $278.00 to $276.00 and set an overweight rating on the stock in a research note on Monday, April 4th. Barclays increased their target price on Constellation Brands from $272.00 to $281.00 and gave the company an overweight rating in a research note on Tuesday, July 5th. Finally, StockNews.com raised Constellation Brands from a hold rating to a buy rating in a report on Monday, June 20th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $272.19.

Constellation Brands Stock Performance

Constellation Brands stock opened at $245.00 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 1.40 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $45.27 billion, a P/E ratio of 37.01, a PEG ratio of 2.09 and a beta of 1.02. The stock’s 50 day moving average is $241.15 and its 200 day moving average is $237.12. Constellation Brands has a twelve month low of $207.35 and a twelve month high of $261.52.

Constellation Brands (NYSE:STZ – Get Rating) last posted its quarterly earnings results on Thursday, June 30th. The company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.16 billion. Constellation Brands had a return on equity of 17.19% and a net margin of 12.72%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 EPS. On average, equities research analysts predict that Constellation Brands will post 10.91 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th will be issued a $0.80 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.31%. Constellation Brands’s dividend payout ratio is currently 48.34%.

Insider Buying and Selling

In related news, insider Robert Sands sold 1,427,799 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $242.81, for a total value of $346,683,875.19. Following the transaction, the insider now directly owns 550,214 shares of the company’s stock, valued at approximately $133,597,461.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Constellation Brands news, insider Robert Sands sold 1,427,799 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $242.81, for a total transaction of $346,683,875.19. Following the sale, the insider now directly owns 550,214 shares of the company’s stock, valued at $133,597,461.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $44,514,842.92. Following the sale, the insider now directly owns 100 shares in the company, valued at $24,281. The disclosure for this sale can be found here. 16.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Curi Wealth Management LLC bought a new stake in Constellation Brands during the fourth quarter valued at about $25,000. Core Wealth Advisors Inc. purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $25,000. MCF Advisors LLC purchased a new position in shares of Constellation Brands during the first quarter valued at about $25,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $26,000. Finally, Wagner Wealth Management LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $26,000. 74.99% of the stock is owned by institutional investors.

About Constellation Brands

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Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Read More

• Get a free copy of the StockNews.com research report on Constellation Brands (STZ)
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