Macquarie Begins Coverage on Constellation Brands Inc (STZ)

Macquarie started coverage on shares of Constellation Brands Inc (NYSE:STZ) in a research note released on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $227.00 price target on the stock.

A number of other research analysts also recently commented on STZ. Vetr downgraded shares of Constellation Brands from a hold rating to a sell rating and set a $175.98 price objective for the company. in a research report on Monday, May 22nd. BidaskClub downgraded shares of Constellation Brands from a strong-buy rating to a buy rating in a research report on Saturday, June 10th. Morgan Stanley reissued an overweight rating and issued a $204.00 price objective on shares of Constellation Brands in a research report on Monday, June 12th. Royal Bank Of Canada reissued a buy rating on shares of Constellation Brands in a research report on Friday, June 16th. Finally, Zacks Investment Research downgraded shares of Constellation Brands from a buy rating to a hold rating in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $202.00.

Shares of Constellation Brands (NYSE:STZ) opened at 203.40 on Thursday. The company has a market capitalization of $39.72 billion, a PE ratio of 25.51 and a beta of 0.03. Constellation Brands has a 12-month low of $144.00 and a 12-month high of $205.12. The firm’s 50-day moving average is $198.27 and its 200-day moving average is $182.34.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business earned $1.54 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands will post $8.18 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Monday, August 7th. Constellation Brands’s dividend payout ratio is currently 26.03%.

In other Constellation Brands news, VP Thomas J. Mullin sold 54,834 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the sale, the vice president now owns 86,005 shares of the company’s stock, valued at approximately $16,727,972.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Insiders sold a total of 108,118 shares of company stock valued at $21,052,835 in the last three months. Insiders own 15.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of STZ. Icon Advisers Inc. Co. raised its position in shares of Constellation Brands by 178.6% in the 1st quarter. Icon Advisers Inc. Co. now owns 27,300 shares of the company’s stock valued at $4,425,000 after buying an additional 17,500 shares in the last quarter. World Asset Management Inc raised its position in shares of Constellation Brands by 16.7% in the 1st quarter. World Asset Management Inc now owns 18,637 shares of the company’s stock valued at $3,020,000 after buying an additional 2,668 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Constellation Brands by 8.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 467,139 shares of the company’s stock valued at $75,709,000 after buying an additional 36,798 shares in the last quarter. British Columbia Investment Management Corp raised its position in shares of Constellation Brands by 20.5% in the 1st quarter. British Columbia Investment Management Corp now owns 115,964 shares of the company’s stock valued at $18,794,000 after buying an additional 19,742 shares in the last quarter. Finally, Affinity Investment Advisors LLC raised its position in shares of Constellation Brands by 8.4% in the 1st quarter. Affinity Investment Advisors LLC now owns 26,767 shares of the company’s stock valued at $4,338,000 after buying an additional 2,072 shares in the last quarter. 74.95% of the stock is owned by hedge funds and other institutional investors.

About Constellation Brands

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

Analyst Recommendations for Constellation Brands (NYSE:STZ)

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