Constellation Brands, Inc. (NYSE:STZ) – Equities researchers at SunTrust Banks dropped their Q2 2020 EPS estimates for shares of Constellation Brands in a research note issued on Tuesday, August 27th, according to Zacks Investment Research. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings per share of $2.50 for the quarter, down from their prior estimate of $2.54. SunTrust Banks has a “Hold” rating and a $190.00 price target on the stock. SunTrust Banks also issued estimates for Constellation Brands’ FY2020 earnings at $8.24 EPS.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, June 28th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.15. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share.
A number of other research analysts have also issued reports on the stock. Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. MKM Partners initiated coverage on shares of Constellation Brands in a research report on Thursday. They set a “buy” rating and a $263.00 price objective for the company. Macquarie set a $220.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a research report on Wednesday, June 5th. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, UBS Group lifted their price objective on shares of Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $225.36.
Shares of STZ traded down $2.24 during mid-day trading on Friday, reaching $205.10. The company had a trading volume of 1,554,699 shares, compared to its average volume of 898,383. The company’s 50 day simple moving average is $200.21 and its 200 day simple moving average is $193.53. Constellation Brands has a 1-year low of $150.37 and a 1-year high of $228.91. 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 company has a market capitalization of $39.72 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 3.11 and a beta of 0.69.
Institutional investors have recently bought and sold shares of the business. Mosaic Family Wealth LLC acquired a new position in shares of Constellation Brands during the first quarter valued at approximately $27,000. Meeder Asset Management Inc. boosted its holdings in Constellation Brands by 2,750.0% in the second quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock valued at $34,000 after purchasing an additional 165 shares during the period. Gradient Investments LLC boosted its holdings in Constellation Brands by 265.3% in the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the period. Next Capital Management LLC purchased a new position in Constellation Brands in the second quarter valued at $35,000. Finally, Global Retirement Partners LLC boosted its holdings in Constellation Brands by 74.4% in the first quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock valued at $37,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 72.10% of the company’s stock.
In other news, major shareholder Richard Sands sold 95,521 shares of Constellation Brands stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the transaction, the insider now owns 173,379 shares in the company, valued at approximately $35,468,142.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total value of $2,015,535.55. Following the sale, the director now directly owns 27,630 shares of the company’s stock, valued at $5,452,780.50. The disclosure for this sale can be found here. 15.86% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, August 12th. Constellation Brands’s dividend payout ratio is currently 32.33%.
About Constellation Brands
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.