Constellation Brands’ (STZ) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Constellation Brands (NYSE:STZ) in a research note released on Friday morning,Benzinga reports. The firm currently has a $280.00 price target on the stock.

Several other research analysts also recently issued reports on STZ. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays cut their price target on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company decreased their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday. BNP Paribas began coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Finally, TD Cowen decreased their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.75.

Constellation Brands Trading Down 17.2 %

Constellation Brands stock opened at $181.57 on Friday. The business’s 50-day simple moving average is $231.88 and its 200-day simple moving average is $241.56. Constellation Brands has a 52 week low of $179.55 and a 52 week high of $274.87. The firm has a market capitalization of $32.97 billion, a PE ratio of 58.76, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. Equities research analysts forecast that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock worth $46,058,091 over the last three months. 12.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after acquiring an additional 21,454 shares during the period. Legal & General Group Plc boosted its stake in Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

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.