Needham & Company LLC Forecasts Strong Price Appreciation for Constellation Brands (NYSE:STZ) Stock

Constellation Brands (NYSE:STZ) had its price objective raised by Needham & Company LLC from $195.00 to $200.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on STZ. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Citigroup decreased their target price on Constellation Brands from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. Barclays set a $202.00 target price on Constellation Brands and gave the company an “overweight” rating in a report on Thursday, June 26th. Jefferies Financial Group cut their price target on Constellation Brands from $201.00 to $196.00 in a report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price objective on Constellation Brands from $210.00 to $196.00 and set an “overweight” rating for the company in a research report on Wednesday, June 25th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $213.35.

Constellation Brands Stock Performance

Shares of STZ opened at $172.61 on Thursday. The stock has a market capitalization of $30.73 billion, a PE ratio of -72.22, a price-to-earnings-growth ratio of 9.64 and a beta of 0.67. The business’s fifty day moving average price is $177.36 and its 200 day moving average price is $184.05. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.56. Constellation Brands has a 12-month low of $159.35 and a 12-month high of $264.45.

Constellation Brands (NYSE:STZ) last issued its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company posted $3.57 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts forecast that Constellation Brands will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.36%. Constellation Brands’s payout ratio is -800.00%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.45% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors and hedge funds have recently bought and sold shares of STZ. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands during the 4th quarter worth about $1,242,976,000. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock valued at $3,379,999,000 after acquiring an additional 2,882,817 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after acquiring an additional 2,514,517 shares during the period. Norges Bank bought a new stake in Constellation Brands during the fourth quarter worth approximately $445,883,000. Finally, D1 Capital Partners L.P. raised its holdings in Constellation Brands by 186.6% during the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after purchasing an additional 994,639 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.