Constellation Brands (NYSE:STZ) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Constellation Brands (NYSE:STZ) in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $280.00 price objective on the stock.

STZ has been the subject of a number of other reports. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. Barclays dropped their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.70.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $227.63 on Friday. Constellation Brands has a 12 month low of $224.76 and a 12 month high of $274.87. The stock has a market cap of $41.33 billion, a price-to-earnings ratio of 73.67, a PEG ratio of 1.69 and a beta of 1.75. The stock’s 50 day moving average price is $237.87 and its 200 day moving average price is $245.41. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.77%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the transaction, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the second quarter valued at approximately $36,000. Wellington Shields & Co. LLC grew its stake in shares of Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares during the last quarter. Eastern Bank bought a new position in Constellation Brands during the third quarter worth $39,000. Finally, Denver PWM LLC acquired a new position in Constellation Brands during the 2nd quarter valued at $42,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Company Profile

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.