Citigroup Lowers Constellation Brands (STZ) Price Target to $168.00

Constellation Brands (NYSE:STZ) had its price objective lowered by Citigroup to $168.00 in a report issued on Thursday morning, The Fly reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently commented on the company. Goldman Sachs Group raised Constellation Brands from a neutral rating to a buy rating and set a $211.00 price objective for the company in a research note on Thursday. ValuEngine downgraded Constellation Brands from a hold rating to a sell rating in a research note on Thursday. Guggenheim raised Constellation Brands from a sell rating to a neutral rating in a research note on Wednesday, January 9th. Pivotal Research reissued a buy rating and issued a $265.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Wednesday, January 9th. Finally, Susquehanna Bancshares raised Constellation Brands from a negative rating to a neutral rating and set a $174.00 price objective for the company in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $228.09.

Shares of NYSE:STZ opened at $159.21 on Thursday. The company has a market capitalization of $28.60 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.57 and a beta of 0.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.76 and a current ratio of 1.66. Constellation Brands has a 52-week low of $150.37 and a 52-week high of $236.62.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.33. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.91 billion. Constellation Brands had a return on equity of 18.27% and a net margin of 35.27%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 earnings per share. Equities research analysts anticipate that Constellation Brands will post 9.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Tuesday, February 12th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, February 11th. Constellation Brands’s payout ratio is 10.67%.

In related news, Chairman Richard Sands sold 148,773 shares of the stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the completion of the sale, the chairman now directly owns 346,525 shares of the company’s stock, valued at $77,514,177.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Sands sold 136,547 shares of the stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $223.62, for a total value of $30,534,640.14. Following the sale, the chief executive officer now directly owns 737,607 shares of the company’s stock, valued at $164,943,677.34. The disclosure for this sale can be found here. Insiders have sold 578,723 shares of company stock valued at $129,438,449 over the last ninety days. 15.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of STZ. BlackRock Inc. grew its holdings in Constellation Brands by 0.6% during the third quarter. BlackRock Inc. now owns 12,057,795 shares of the company’s stock valued at $2,599,903,000 after purchasing an additional 70,095 shares during the period. Vanguard Group Inc. grew its holdings in Constellation Brands by 0.3% during the third quarter. Vanguard Group Inc. now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after purchasing an additional 30,782 shares during the period. Vanguard Group Inc grew its holdings in Constellation Brands by 0.3% during the third quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after purchasing an additional 30,782 shares during the period. FMR LLC grew its holdings in Constellation Brands by 6.0% during the second quarter. FMR LLC now owns 5,969,243 shares of the company’s stock valued at $1,306,489,000 after purchasing an additional 337,338 shares during the period. Finally, Capital World Investors grew its holdings in Constellation Brands by 3.4% during the third quarter. Capital World Investors now owns 4,054,750 shares of the company’s stock valued at $874,285,000 after purchasing an additional 133,500 shares during the period. 72.56% of the stock is owned by institutional investors.

Constellation Brands Company Profile

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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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