Constellation Brands (NYSE:STZ) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm currently has a $238.15 price objective on the stock. Vetr‘s target price suggests a potential upside of 13.26% from the company’s previous close.
A number of other research firms have also recently weighed in on STZ. Susquehanna Bancshares set a $207.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a report on Monday, January 1st. Wells Fargo & Co lifted their price objective on shares of Constellation Brands from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Macquarie lifted their price objective on shares of Constellation Brands from $246.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a report on Monday, December 18th. Finally, Barclays assumed coverage on shares of Constellation Brands in a report on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and a consensus target price of $237.77.
Constellation Brands (NYSE:STZ) opened at $210.26 on Monday. Constellation Brands has a fifty-two week low of $153.28 and a fifty-two week high of $229.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.40 and a quick ratio of 0.54. The firm has a market cap of $40,830.00, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.11.
Constellation Brands declared that its board has authorized a share repurchase program on Friday, January 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, Director Barry A. Fromberg sold 2,005 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total transaction of $441,942.10. Following the transaction, the director now directly owns 20,790 shares in the company, valued at $4,582,531.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.59% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Egerton Capital UK LLP boosted its position in Constellation Brands by 13.0% during the third quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock worth $612,522,000 after acquiring an additional 353,490 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Constellation Brands by 11,394.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,183,937 shares of the company’s stock valued at $270,612,000 after purchasing an additional 1,173,637 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Constellation Brands by 11.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 857,830 shares of the company’s stock valued at $171,094,000 after purchasing an additional 84,876 shares during the last quarter. Swiss National Bank boosted its holdings in Constellation Brands by 0.9% in the 4th quarter. Swiss National Bank now owns 772,716 shares of the company’s stock valued at $176,620,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Constellation Brands by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 695,418 shares of the company’s stock valued at $138,703,000 after purchasing an additional 18,400 shares during the last quarter. Hedge funds and other institutional investors own 75.45% of the company’s stock.
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About Constellation Brands
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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