Constellation Brands (NYSE:STZ) Given New $227.00 Price Target at Morgan Stanley

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Constellation Brands (NYSE:STZ) had its price target increased by Morgan Stanley from $217.00 to $227.00 in a research report report published on Friday, September 20th, AnalystRatings.com reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently weighed in on STZ. Bank of America set a $221.00 price target on Constellation Brands and gave the company a buy rating in a report on Monday, July 1st. Citigroup set a $210.00 price objective on shares of Constellation Brands and gave the stock a hold rating in a report on Monday, July 1st. SunTrust Banks upped their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the company a hold rating in a report on Monday, July 1st. UBS Group increased their price target on shares of Constellation Brands from $195.00 to $212.00 and gave the stock a neutral rating in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group raised their price objective on shares of Constellation Brands from $264.00 to $274.00 and gave the stock a buy rating in a report on Monday, July 1st. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $223.76.

Shares of Constellation Brands stock traded up $0.37 during trading hours on Friday, hitting $193.08. 918,961 shares of the company’s stock traded hands, compared to its average volume of 1,339,570. The company has a market cap of $36.68 billion, a PE ratio of 20.81, a PEG ratio of 2.87 and a beta of 0.69. Constellation Brands has a twelve month low of $150.37 and a twelve month high of $228.49. The stock has a 50 day simple moving average of $202.54 and a 200-day simple moving average of $196.86. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 1.04.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $2.72 EPS for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.12. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm earned $2.87 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Constellation Brands will post 8.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.75 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio (DPR) is currently 32.33%.

In related news, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total value of $2,015,535.55. Following the sale, the director now owns 27,630 shares in the company, valued at $5,452,780.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the transaction, the insider now directly owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Constellation Brands by 14.7% during the first quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after purchasing an additional 1,734,902 shares in the last quarter. Vanguard Group Inc. boosted its position in Constellation Brands by 1.0% during the second quarter. Vanguard Group Inc. now owns 12,137,423 shares of the company’s stock valued at $2,390,344,000 after purchasing an additional 122,268 shares in the last quarter. Bank of America Corp DE boosted its position in Constellation Brands by 65.0% during the second quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock valued at $697,895,000 after purchasing an additional 1,395,888 shares in the last quarter. Jennison Associates LLC boosted its position in Constellation Brands by 120.4% during the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock valued at $537,087,000 after purchasing an additional 1,490,064 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Constellation Brands by 11.4% during the second quarter. Janus Henderson Group PLC now owns 2,363,365 shares of the company’s stock valued at $465,445,000 after purchasing an additional 242,621 shares in the last quarter. Hedge funds and other institutional investors own 72.10% of the company’s stock.

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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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