Constellation Brands (STZ) Coverage Initiated at Barclays

Equities research analysts at Barclays assumed coverage on shares of Constellation Brands (NYSE:STZ) in a report issued on Wednesday, MarketBeat reports. The brokerage set an “overweight” rating and a $255.00 price target on the stock. Barclays’ price objective points to a potential upside of 17.23% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada reissued a “buy” rating and set a $226.00 price target on shares of Constellation Brands in a report on Sunday, November 12th. Pivotal Research raised their price target on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Stifel Nicolaus raised their price target on Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 6th. SunTrust Banks reissued a “buy” rating and set a $230.00 price target on shares of Constellation Brands in a report on Friday, October 6th. Finally, Deutsche Bank started coverage on Constellation Brands in a report on Wednesday, December 13th. They set a “buy” rating and a $244.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $229.00.

Shares of Constellation Brands (NYSE STZ) traded down $1.53 during trading on Wednesday, reaching $217.52. The company had a trading volume of 4,189,300 shares, compared to its average volume of 2,110,000. Constellation Brands has a one year low of $146.99 and a one year high of $229.50. The company has a market cap of $42,610.00, a PE ratio of 26.43, a P/E/G ratio of 1.34 and a beta of 0.08. The company has a current ratio of 1.40, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.13. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. During the same period last year, the firm earned $1.96 earnings per share. equities research analysts anticipate that Constellation Brands will post 8.53 EPS for the current fiscal year.

Constellation Brands announced that its Board of Directors has initiated a stock buyback program on Friday, January 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

In related news, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the transaction, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas J. Mullin sold 50,000 shares of Constellation Brands stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $209.45, for a total value of $10,472,500.00. The disclosure for this sale can be found here. Insiders own 15.59% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KAMES CAPITAL plc grew its position in Constellation Brands by 3,223.4% in the fourth quarter. KAMES CAPITAL plc now owns 326,658 shares of the company’s stock worth $74,671,000 after acquiring an additional 316,829 shares in the last quarter. Daiwa SB Investments Ltd. grew its position in Constellation Brands by 14.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 5,210 shares of the company’s stock worth $1,191,000 after acquiring an additional 640 shares in the last quarter. Hutchens Investment Management Inc grew its position in Constellation Brands by 5.2% in the fourth quarter. Hutchens Investment Management Inc now owns 7,603 shares of the company’s stock worth $1,737,000 after acquiring an additional 378 shares in the last quarter. DnB Asset Management AS grew its position in Constellation Brands by 10.0% in the fourth quarter. DnB Asset Management AS now owns 24,127 shares of the company’s stock worth $5,515,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Constellation Brands by 4.0% in the third quarter. Prudential Financial Inc. now owns 368,099 shares of the company’s stock worth $73,417,000 after acquiring an additional 14,137 shares in the last quarter. Institutional investors own 74.86% of the company’s stock.

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Constellation Brands Company Profile

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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