Constellation Brands, Inc. (NYSE:STZ) – Stock analysts at Jefferies Financial Group increased their FY2021 earnings per share (EPS) estimates for shares of Constellation Brands in a research report issued to clients and investors on Monday, April 5th. Jefferies Financial Group analyst K. Grundy now forecasts that the company will earn $9.72 per share for the year, up from their previous forecast of $9.42. Jefferies Financial Group has a “Buy” rating and a $300.00 price target on the stock. Jefferies Financial Group also issued estimates for Constellation Brands’ FY2024 earnings at $14.06 EPS.
Other analysts also recently issued reports about the stock. MKM Partners upgraded shares of Constellation Brands from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $154.00 to $210.00 in a research report on Friday, January 8th. Cowen raised their target price on shares of Constellation Brands from $240.00 to $275.00 in a research note on Friday, January 8th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Constellation Brands from $220.00 to $244.00 in a research note on Friday, January 8th. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating and set a $242.00 target price on the stock. in a research note on Monday, January 11th. Finally, Morgan Stanley raised their target price 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. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands has a consensus rating of “Buy” and an average price target of $237.30.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, January 6th. The company reported $3.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.41 by $0.68. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $1.91 billion. Constellation Brands had a net margin of 21.63% and a return on equity of 16.09%. Constellation Brands’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm posted $2.14 EPS.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 23rd. Shareholders of record on Tuesday, February 9th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, February 8th. Constellation Brands’s payout ratio is 10.20%.
In other Constellation Brands news, EVP Robert Lee Hanson sold 6,101 shares of the firm’s stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $228.78, for a total value of $1,395,786.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.77% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in STZ. Norges Bank acquired a new position in shares of Constellation Brands in the fourth quarter worth about $365,957,000. JPMorgan Chase & Co. boosted its holdings in shares of Constellation Brands by 14.6% during the fourth quarter. JPMorgan Chase & Co. now owns 7,120,717 shares of the company’s stock worth $1,559,794,000 after purchasing an additional 908,033 shares during the period. AGF Investments Inc. boosted its holdings in shares of Constellation Brands by 25,547.1% during the fourth quarter. AGF Investments Inc. now owns 471,907 shares of the company’s stock worth $103,371,000 after purchasing an additional 470,067 shares during the period. Vontobel Asset Management Inc. acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $73,700,000. Finally, Ninety One UK Ltd acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $63,585,000. Institutional investors own 71.90% of the company’s stock.
Constellation Brands Company Profile
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.
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