Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating reissued by SunTrust Banks in a report released on Monday, MarketBeat.com reports. They currently have a $250.00 target price on the stock, up from their previous target price of $230.00. SunTrust Banks’ price objective points to a potential upside of 13.00% from the stock’s previous close. SunTrust Banks also issued estimates for Constellation Brands’ FY2019 earnings at $10.26 EPS.
Other research analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $226.00 target price on shares of Constellation Brands in a research report on Sunday, November 12th. Pivotal Research increased their price objective on Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Stifel Nicolaus increased their price objective on Constellation Brands from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, October 6th. Deutsche Bank initiated coverage on Constellation Brands in a research note on Wednesday, December 13th. They set a “buy” rating and a $244.00 price objective for the company. Finally, Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $229.00.
Shares of Constellation Brands (NYSE:STZ) traded down $0.85 during mid-day trading on Monday, reaching $221.23. The company had a trading volume of 235,954 shares, compared to its average volume of 4,055,317. The company has a market capitalization of $43,250.00, a PE ratio of 26.88, a P/E/G ratio of 1.42 and a beta of 0.08. Constellation Brands has a 52-week low of $146.71 and a 52-week high of $229.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.69 and a current ratio of 1.61.
Constellation Brands announced that its Board of Directors has authorized a share buyback plan on Friday, January 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other news, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $209.45, for a total value of $10,472,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 18,227 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the sale, the vice president now owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The disclosure for this sale can be found here. Company insiders own 15.59% of the company’s stock.
Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in Constellation Brands by 4,909.6% in the second quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock worth $219,829,000 after purchasing an additional 1,112,065 shares during the period. The Manufacturers Life Insurance Company increased its position in Constellation Brands by 488.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock worth $231,093,000 after purchasing an additional 990,152 shares during the period. Farallon Capital Management LLC acquired a new stake in Constellation Brands in the second quarter worth about $135,760,000. Numeric Investors LLC increased its position in Constellation Brands by 2,217.6% in the second quarter. Numeric Investors LLC now owns 720,771 shares of the company’s stock worth $139,635,000 after purchasing an additional 689,671 shares during the period. Finally, Capital Research Global Investors acquired a new stake in Constellation Brands in the second quarter worth about $70,971,000. Institutional investors own 74.86% of the company’s stock.
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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