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

Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $280.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 51.66% from the stock’s current price.

Several other research firms have also issued reports on STZ. Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Tuesday. Roth Mkm reiterated a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. TD Cowen dropped their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Wells Fargo & Company dropped their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $34.66 during midday trading on Friday, reaching $184.62. The company’s stock had a trading volume of 3,901,768 shares, compared to its average volume of 2,024,687. Constellation Brands has a fifty-two week low of $184.59 and a fifty-two week high of $274.87. The business’s fifty day simple moving average is $232.90 and its 200-day simple moving average is $242.14. The company has a market capitalization of $33.52 billion, a P/E ratio of 59.75, a P/E/G ratio of 1.69 and a beta of 1.75. 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 issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $3.19 EPS. As a group, equities research analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction 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 sale, the director now owns 431,729 shares of the company’s stock, 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. In the last 90 days, insiders sold 189,956 shares of company stock valued at $46,058,091. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Constellation Brands by 66.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after purchasing an additional 147,457 shares during the last quarter. Ables Iannone Moore & Associates Inc. lifted its holdings in Constellation Brands by 9.0% in the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock valued at $1,929,000 after buying an additional 718 shares during the period. Doliver Advisors LP bought a new stake in Constellation Brands during the fourth quarter valued at $348,000. Nordea Investment Management AB grew its holdings in Constellation Brands by 10.7% during the 4th quarter. Nordea Investment Management AB now owns 164,505 shares of the company’s stock worth $36,446,000 after acquiring an additional 15,942 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.