Needham & Company LLC Reiterates Buy Rating for Constellation Brands (NYSE:STZ)

Needham & Company LLC restated their buy rating on shares of Constellation Brands (NYSE:STZ) in a research report report published on Thursday morning,Benzinga reports. They currently have a $215.00 target price on the stock.

Several other equities research analysts also recently weighed in on the stock. UBS Group reduced their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Barclays dropped their target price on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $220.00 to $202.00 in a report on Thursday, February 27th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $231.10.

Constellation Brands Stock Up 0.5 %

Shares of NYSE:STZ opened at $185.63 on Thursday. The company has a 50-day moving average price of $176.86 and a 200 day moving average price of $209.03. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands has a 12 month low of $160.46 and a 12 month high of $270.18. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business earned $2.26 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts predict that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio is currently -792.16%.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

A number of large investors have recently added to or reduced their stakes in the company. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands in the 4th quarter worth approximately $1,242,976,000. Norges Bank purchased a new position in Constellation Brands in the fourth quarter worth $445,883,000. Vanguard Group Inc. grew its holdings in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the last quarter. D1 Capital Partners L.P. increased its position in shares of Constellation Brands by 186.6% during the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after purchasing an additional 994,639 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.