Constellation Brands (NYSE:STZ) Cut to C+ at TheStreet

TheStreet lowered shares of Constellation Brands (NYSE:STZGet Rating) from a b rating to a c+ rating in a research note released on Tuesday, TheStreetRatingsTable reports.

STZ has been the topic of a number of other research reports. Morgan Stanley increased their target price on shares of Constellation Brands from $294.00 to $298.00 and gave the stock an overweight rating in a research report on Tuesday, June 21st. UBS Group cut their price target on shares of Constellation Brands from $285.00 to $270.00 and set a buy rating for the company in a report on Tuesday, June 21st. BMO Capital Markets started coverage on shares of Constellation Brands in a report on Tuesday, August 2nd. They set an outperform rating and a $290.00 price target for the company. Redburn Partners started coverage on shares of Constellation Brands in a report on Wednesday, July 13th. They set a buy rating for the company. Finally, The Goldman Sachs Group reaffirmed a buy rating and set a $275.00 price target on shares of Constellation Brands in a report on Wednesday, June 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of Moderate Buy and an average price target of $272.73.

Constellation Brands Stock Down 1.0 %

STZ opened at $236.59 on Tuesday. Constellation Brands has a 1-year low of $207.59 and a 1-year high of $261.52. The stock’s fifty day simple moving average is $245.44 and its 200 day simple moving average is $241.30. The company has a current ratio of 1.40, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market cap of $43.72 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.01.

Constellation Brands (NYSE:STZGet Rating) last released its quarterly earnings results on Thursday, June 30th. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.16 billion. Constellation Brands had a net margin of 12.72% and a return on equity of 17.19%. Constellation Brands’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $2.33 earnings per share. As a group, research analysts expect that Constellation Brands will post 11.09 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.35%. Constellation Brands’s dividend payout ratio (DPR) is 14.05%.

Insiders Place Their Bets

In other news, major shareholder Wildstar Partners Llc sold 183,332 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 transaction of $44,514,842.92. Following the completion of the transaction, the insider now directly owns 100 shares in the company, valued at $24,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Garth Hankinson sold 2,270 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $255.92, for a total transaction of $580,938.40. Following the sale, the chief financial officer now directly owns 7,176 shares of the company’s stock, valued at $1,836,481.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of the stock in a transaction on 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. Over the last 90 days, insiders sold 1,619,248 shares of company stock worth $393,239,506. 16.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors have recently modified their holdings of STZ. O Shaughnessy Asset Management LLC boosted its position in Constellation Brands by 6.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,154 shares of the company’s stock worth $290,000 after purchasing an additional 65 shares during the last quarter. Alberta Investment Management Corp purchased a new position in Constellation Brands in the fourth quarter worth about $3,627,000. Nissay Asset Management Corp Japan ADV boosted its position in Constellation Brands by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 18,707 shares of the company’s stock worth $4,695,000 after purchasing an additional 357 shares during the last quarter. Clearstead Advisors LLC boosted its position in Constellation Brands by 9.4% in the fourth quarter. Clearstead Advisors LLC now owns 1,825 shares of the company’s stock worth $458,000 after purchasing an additional 157 shares during the last quarter. Finally, ETF Managers Group LLC purchased a new position in Constellation Brands in the fourth quarter worth about $1,486,000. 73.86% of the stock is owned by hedge funds and other institutional investors.

About Constellation Brands

(Get Rating)

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.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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