Morgan Stanley Boosts Constellation Brands (NYSE:STZ) Price Target to $217.00

Constellation Brands (NYSE:STZ) had its price target upped by Morgan Stanley from $207.00 to $217.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the stock.

STZ has been the subject of several other reports. Credit Suisse Group set a $230.00 price target on Constellation Brands and gave the stock a buy rating in a research report on Friday, April 5th. Zacks Investment Research upgraded Constellation Brands from a sell rating to a hold rating in a research report on Monday, March 4th. Macquarie set a $183.00 price target on Constellation Brands and gave the stock a hold rating in a research report on Friday, April 5th. Deutsche Bank lowered Constellation Brands from a buy rating to a hold rating and raised their price target for the stock from $191.00 to $194.00 in a research report on Friday, April 5th. Finally, Bank of America restated a buy rating and set a $216.00 price target (up from $188.00) on shares of Constellation Brands in a research report on Friday, April 5th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $225.35.

STZ stock opened at $197.49 on Tuesday. The stock’s fifty day simple moving average is $191.26. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22. The firm has a market capitalization of $38.25 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.99 and a beta of 0.73. Constellation Brands has a 52-week low of $150.37 and a 52-week high of $228.91.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, June 28th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.15. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. As a group, analysts predict that Constellation Brands will post 8.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be issued a $0.75 dividend. The ex-dividend date is Monday, August 12th. This represents a $3.00 dividend on an annualized basis and a yield of 1.52%. Constellation Brands’s dividend payout ratio (DPR) is presently 10.02%.

In related news, Chairman Robert Sands sold 23,611 shares of Constellation Brands stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $206.48, for a total value of $4,875,199.28. Following the completion of the transaction, the chairman now directly owns 570,857 shares in the company, valued at $117,870,553.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO James A. Jr. Sabia sold 4,275 shares of Constellation Brands stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total value of $832,342.50. Following the completion of the transaction, the chief marketing officer now owns 43,494 shares of the company’s stock, valued at $8,468,281.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,850 shares of company stock valued at $15,820,705. 15.86% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Constellation Brands by 14.7% in the first quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after purchasing an additional 1,734,902 shares during the period. Jackson Square Partners LLC purchased a new stake in Constellation Brands during the 1st quarter worth about $395,015,000. Janus Henderson Group PLC lifted its holdings in Constellation Brands by 53.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock worth $371,831,000 after buying an additional 737,613 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Constellation Brands by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 1,937,070 shares of the company’s stock worth $310,909,000 after buying an additional 120,139 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Constellation Brands by 3.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,577,086 shares of the company’s stock worth $276,510,000 after buying an additional 52,412 shares during the last quarter. Hedge funds and other institutional investors own 70.74% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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