Constellation Brands (NYSE: STZ) hits new 12-month high after analysts upgrade
Constellation Brands, Inc. (NYSE: STZ) hit a new 52-week high on Tuesday after Wells Fargo & Company raised its share price target from $ 265.00 to $ 300.00. Wells Fargo & Company is currently overweight the stock. Constellation Brands traded at $ 254.40 and last traded at $ 254.31, with 1008 shares changing hands. The stock had previously closed at $ 252.82.
STZ has been the subject of several other research reports. Evercore ISI reiterated a “buy” note and issued a price target of $ 275.00 on Constellation Brands shares in a research note on Wednesday, September 22. JPMorgan Chase & Co. raised its price target on Constellation Brands stock from $ 275.00 to $ 283.00 and rated the company as “overweight” in a research report on Monday. Credit Suisse Group raised its price target for Constellation Brands stock from $ 275.00 to $ 280.00 and rated the stock as “outperforming” in a report released on Thursday, October 7. Morgan Stanley raised its price target for Constellation Brands stock from $ 254.00 to $ 303.00 and rated the stock “overweight” in a report released Monday. Finally, TheStreet downgraded Constellation Brands stocks from a âc +â rating to a âb-â rating in a Monday, December 6 research note. Eight research analysts rated the stock with a conservation rating, thirteen issued a buy rating, and one assigned a high buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 264.79.
Hedge funds have recently bought and sold stocks. Kozak & Associates Inc. purchased a new equity interest in Constellation Brands in the 3rd quarter valued at approximately $ 30,000. Annapolis Financial Services LLC acquired a new position in Constellation Brands during the third quarter for a value of approximately $ 32,000. Itau Unibanco Holding SA acquired a new position in Constellation Brands during the 2nd quarter for a value of approximately $ 33,000. Bell Investment Advisors Inc purchased a new position in Constellation Brands stocks during the third quarter valued at approximately $ 33,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in Constellation Brands shares during the second quarter valued at approximately $ 40,000. 71.66% of the shares are currently held by institutional investors.
The company’s 50-day moving average is $ 232.49 and its 200-day moving average is $ 223.74. The stock has a market cap of $ 48.00 billion, a price / earnings ratio of 67.06, a PEG ratio of 3.34 and a beta of 1.18. The company has a leverage ratio of 0.87, a quick ratio of 0.73, and a current ratio of 1.35.
Constellation Brands (NYSE: STZ) last reported its results on Tuesday, October 5. The company reported earnings per share (EPS) of $ 2.38 for the quarter, missing the consensus estimate of $ 2.78 of ($ 0.40). Constellation Brands reported a return on equity of 14.51% and a net margin of 7.96%. The company posted revenue of $ 2.37 billion for the quarter, compared to $ 2.30 billion according to analysts’ estimates. During the same period last year, the company earned $ 2.76 per share. The company’s revenue for the quarter increased 4.9% from the same quarter last year. Analysts on the seller’s side predict Constellation Brands, Inc. will post 10.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 19. Shareholders of record on Friday, November 5 received a dividend of $ 0.76 per share. The ex-dividend date was Thursday, November 4. This represents an annualized dividend of $ 3.04 and a dividend yield of 1.19%. Constellation Brands’ payout ratio is 24.67%.
About the Constellation brands (NYSE: STZ)
Constellation Brands, Inc is engaged in the production, marketing and distribution of beer, wine and spirits. It operates in the following segments: Beer, Wine and Spirits, and Corporate and Other Operations, and Canopy. The Beer segment includes both imported and craft beer brands. The Wines and Spirits segment sells wine brands in all categories – table wines, sparkling wines and dessert wines – and at all price points.
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