Constellation Brands, Inc. (NYSE:STZ) – Equities research analysts at Jefferies Financial Group dropped their Q2 2021 earnings per share estimates for shares of Constellation Brands in a research note issued on Monday, September 14th. Jefferies Financial Group analyst K. Grundy now anticipates that the company will earn $2.53 per share for the quarter, down from their previous forecast of $2.54. Jefferies Financial Group currently has a “Buy” rating and a $238.00 price target on the stock. Jefferies Financial Group also issued estimates for Constellation Brands’ Q4 2021 earnings at $1.87 EPS, FY2021 earnings at $9.23 EPS, FY2022 earnings at $10.22 EPS and FY2023 earnings at $11.87 EPS.
Other equities research analysts have also recently issued research reports about the company. UBS Group boosted their target price on Constellation Brands from $192.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. MKM Partners upped their price objective on Constellation Brands from $147.00 to $151.00 in a research note on Monday, July 6th. Royal Bank of Canada reiterated a “buy” rating and set a $216.00 price objective on shares of Constellation Brands in a research note on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on Constellation Brands from $200.00 to $227.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Finally, Deutsche Bank upped their price objective on Constellation Brands from $176.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. Constellation Brands currently has an average rating of “Buy” and a consensus target price of $197.32.
NYSE STZ opened at $193.20 on Tuesday. The stock has a market capitalization of $37.26 billion, a price-to-earnings ratio of 1,073.39, a PEG ratio of 2.07 and a beta of 0.97. The stock’s 50 day moving average price is $181.43 and its two-hundred day moving average price is $169.38. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.94. Constellation Brands has a 52 week low of $104.28 and a 52 week high of $210.65.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 1st. The company reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.29. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. Constellation Brands’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the business. Duality Advisers LP acquired a new position in Constellation Brands in the 2nd quarter valued at $545,000. AE Wealth Management LLC grew its holdings in Constellation Brands by 178.3% in the 2nd quarter. AE Wealth Management LLC now owns 8,377 shares of the company’s stock valued at $1,466,000 after buying an additional 5,367 shares in the last quarter. Cigna Investments Inc. New grew its holdings in Constellation Brands by 14.3% in the 2nd quarter. Cigna Investments Inc. New now owns 5,365 shares of the company’s stock valued at $938,000 after buying an additional 672 shares in the last quarter. HNP Capital LLC acquired a new position in Constellation Brands in the 2nd quarter valued at $215,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Constellation Brands by 3.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 615,162 shares of the company’s stock worth $88,189,000 after purchasing an additional 22,431 shares in the last quarter. 71.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Constellation Brands news, major shareholder Richard Sands sold 638,407 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $180.12, for a total value of $114,989,868.84. Following the transaction, the insider now directly owns 249,763 shares of the company’s stock, valued at approximately $44,987,311.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Robert Sands sold 90,184 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $181.20, for a total value of $16,341,340.80. Following the completion of the transaction, the chairman now directly owns 644,719 shares in the company, valued at $116,823,082.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,052,364 shares of company stock worth $189,856,440 over the last three months. 15.77% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Monday, August 10th. Constellation Brands’s payout ratio is presently 10.20%.
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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