Constellation Brands, Inc. (NYSE:STZ) – Stock analysts at SunTrust Banks boosted their FY2019 earnings per share estimates for shares of Constellation Brands in a research note issued to investors on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings per share of $10.26 for the year, up from their prior forecast of $9.62. SunTrust Banks has a “Buy” rating and a $250.00 price objective on the stock.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. Constellation Brands had a return on equity of 22.49% and a net margin of 22.55%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned $1.96 EPS.
Constellation Brands (NYSE:STZ) traded up $5.24 during mid-day trading on Tuesday, reaching $222.08. The company had a trading volume of 2,261,600 shares, compared to its average volume of 1,830,000. Constellation Brands has a fifty-two week low of $146.71 and a fifty-two week high of $229.50. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. The firm has a market cap of $43,440.00, a P/E ratio of 26.98, a P/E/G ratio of 1.42 and a beta of 0.08.
Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its holdings in shares of Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after acquiring an additional 193 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Constellation Brands by 597.9% in the second quarter. Commonwealth Bank of Australia now owns 5,102 shares of the company’s stock valued at $987,000 after acquiring an additional 4,371 shares in the last quarter. Aberdeen Asset Management PLC UK grew its holdings in shares of Constellation Brands by 0.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 36,490 shares of the company’s stock valued at $7,069,000 after acquiring an additional 172 shares in the last quarter. Oak Ridge Investments LLC grew its holdings in shares of Constellation Brands by 24.4% in the second quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock valued at $6,956,000 after acquiring an additional 7,052 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of Constellation Brands by 29.0% in the second quarter. Raymond James Trust N.A. now owns 2,723 shares of the company’s stock valued at $527,000 after acquiring an additional 612 shares in the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $209.45, for a total transaction of $10,472,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas J. Mullin sold 18,227 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total value of $3,955,441.27. Following the sale, the vice president now directly owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The disclosure for this sale can be found here. Insiders own 15.59% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 8th. Constellation Brands’s dividend payout ratio is currently 11.30%.
Constellation Brands declared that its board has initiated a stock repurchase plan on Friday, January 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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