Constellation Brands, Inc. (NYSE:STZ) has earned a consensus recommendation of “Buy” from the twenty-eight research firms that are covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $225.50.
A number of brokerages recently commented on STZ. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $230.00 to $220.00 in a research report on Friday, May 24th. They noted that the move was a valuation call. Jefferies Financial Group lifted their price objective on Constellation Brands from $267.00 to $275.00 and gave the stock a “top pick” rating in a research report on Monday, April 22nd. Barclays set a $226.00 price objective on Constellation Brands and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Macquarie set a $183.00 price objective on Constellation Brands and gave the stock a “hold” rating in a research report on Friday, April 5th.
Shares of NYSE:STZ traded down $1.15 during trading on Monday, reaching $186.48. The stock had a trading volume of 15,149 shares, compared to its average volume of 1,901,322. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.16 and a quick ratio of 0.49. The firm has a market capitalization of $35.72 billion, a PE ratio of 20.12, a P/E/G ratio of 2.55 and a beta of 0.69. Constellation Brands has a 1-year low of $150.37 and a 1-year high of $234.26.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.75 dividend. The ex-dividend date was Thursday, May 9th. This represents a $3.00 dividend on an annualized basis and a yield of 1.61%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s payout ratio is currently 32.33%.
In related news, Chairman Robert Sands sold 23,611 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $206.48, for a total transaction of $4,875,199.28. Following the transaction, the chairman now owns 570,857 shares of the company’s stock, valued at approximately $117,870,553.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO James A. Jr. Sabia sold 4,275 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $194.70, for a total value of $832,342.50. Following the transaction, the chief marketing officer now directly owns 43,494 shares in the company, valued at approximately $8,468,281.80. The disclosure for this sale can be found here. Insiders sold 80,921 shares of company stock worth $16,404,441 in the last 90 days. Company insiders own 15.86% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wisconsin Capital Management LLC lifted its stake in Constellation Brands by 0.3% during the 1st quarter. Wisconsin Capital Management LLC now owns 15,044 shares of the company’s stock worth $2,638,000 after acquiring an additional 50 shares in the last quarter. Trustcore Financial Services LLC raised its position in Constellation Brands by 6.7% in the 1st quarter. Trustcore Financial Services LLC now owns 814 shares of the company’s stock valued at $143,000 after purchasing an additional 51 shares in the last quarter. HCR Wealth Advisors raised its position in Constellation Brands by 0.8% in the 1st quarter. HCR Wealth Advisors now owns 6,187 shares of the company’s stock valued at $993,000 after purchasing an additional 52 shares in the last quarter. Confluence Wealth Management LLC raised its position in Constellation Brands by 1.2% in the 1st quarter. Confluence Wealth Management LLC now owns 4,707 shares of the company’s stock valued at $825,000 after purchasing an additional 58 shares in the last quarter. Finally, Destination Wealth Management raised its position in Constellation Brands by 20.0% in the 1st quarter. Destination Wealth Management now owns 360 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares in the last quarter. 70.74% of the stock is currently owned by hedge funds and other institutional investors.
About Constellation Brands
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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