Constellation Brands (NYSE:STZ) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Constellation Brands (NYSE:STZ) from a hold rating to a buy rating in a report released on Monday, MarketBeat.com reports. They currently have $205.00 price target on the stock, up from their prior price target of $194.00.

STZ has been the topic of a number of other reports. Needham & Company LLC boosted their price objective on Constellation Brands from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Barclays set a $202.00 price target on Constellation Brands and gave the stock an “overweight” rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. upped their price target on Constellation Brands from $170.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 3rd. CJS Securities dropped their price target on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Finally, Morgan Stanley dropped their price target on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $213.74.

Constellation Brands Stock Down 0.7%

Shares of NYSE:STZ opened at $169.31 on Monday. The company has a market capitalization of $30.14 billion, a price-to-earnings ratio of -70.84, a P/E/G ratio of 10.34 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The business’s 50-day moving average is $176.12 and its 200-day moving average is $182.45. Constellation Brands has a 1 year low of $159.35 and a 1 year high of $264.45.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.57 earnings per share. Equities research analysts predict that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands’s payout ratio is -170.71%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president directly owned 3,126 shares of the company’s stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.45% of the company’s stock.

Institutional Trading of Constellation Brands

A number of institutional investors and hedge funds have recently modified their holdings of the business. Czech National Bank grew its holdings in Constellation Brands by 4.8% during the second quarter. Czech National Bank now owns 37,416 shares of the company’s stock valued at $6,087,000 after purchasing an additional 1,722 shares during the period. Canandaigua National Bank & Trust Co. grew its holdings in Constellation Brands by 4.7% during the second quarter. Canandaigua National Bank & Trust Co. now owns 42,841 shares of the company’s stock valued at $6,969,000 after purchasing an additional 1,911 shares during the period. Gradient Investments LLC grew its holdings in Constellation Brands by 1.4% during the second quarter. Gradient Investments LLC now owns 61,244 shares of the company’s stock valued at $9,963,000 after purchasing an additional 869 shares during the period. Wesbanco Bank Inc. grew its holdings in Constellation Brands by 10.7% during the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock valued at $7,049,000 after purchasing an additional 4,204 shares during the period. Finally, Ables Iannone Moore & Associates Inc. grew its holdings in Constellation Brands by 21.6% during the second quarter. Ables Iannone Moore & Associates Inc. now owns 12,219 shares of the company’s stock valued at $1,988,000 after purchasing an additional 2,171 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

About Constellation Brands

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.