Constellation Brands, Inc. Class A (STZ) Price Target Lowered to $230.00 at Bank of America

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Constellation Brands, Inc. Class A (NYSE:STZ) had its target price lowered by Bank of America from $250.00 to $230.00 in a research note released on Thursday morning. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of Constellation Brands, Inc. Class A from a buy rating to a hold rating in a report on Friday, May 18th. Deutsche Bank lowered their target price on shares of Constellation Brands, Inc. Class A to $234.00 and set a buy rating on the stock in a report on Thursday, July 5th. OTR Global cut shares of Constellation Brands, Inc. Class A to a positive rating in a report on Friday, June 15th. Stifel Nicolaus lowered their target price on shares of Constellation Brands, Inc. Class A from $230.00 to $224.00 and set a hold rating on the stock in a report on Monday, July 2nd. Finally, Pivotal Research reaffirmed a buy rating and set a $285.00 target price on shares of Constellation Brands, Inc. Class A in a report on Friday, June 29th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $246.34.

Constellation Brands, Inc. Class A stock opened at $203.93 on Thursday. The stock has a market capitalization of $40.78 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 1.93 and a beta of 0.03. The company has a current ratio of 1.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.89. Constellation Brands, Inc. Class A has a twelve month low of $195.89 and a twelve month high of $236.62.

Constellation Brands, Inc. Class A (NYSE:STZ) last released its quarterly earnings results on Friday, June 29th. The company reported $2.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.42 by ($0.22). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. Constellation Brands, Inc. Class A had a net margin of 31.51% and a return on equity of 19.81%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 earnings per share. equities analysts forecast that Constellation Brands, Inc. Class A will post 9.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $2.96 annualized dividend and a dividend yield of 1.45%. Constellation Brands, Inc. Class A’s dividend payout ratio is 10.67%.

Several hedge funds and other institutional investors have recently bought and sold shares of STZ. Benedict Financial Advisors Inc. acquired a new stake in shares of Constellation Brands, Inc. Class A during the 1st quarter worth approximately $325,000. Cohen Capital Management Inc. acquired a new stake in shares of Constellation Brands, Inc. Class A during the 1st quarter worth approximately $9,393,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Constellation Brands, Inc. Class A during the 1st quarter worth approximately $44,661,000. Wells Fargo & Company MN boosted its position in shares of Constellation Brands, Inc. Class A by 18.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,841,385 shares of the company’s stock worth $419,689,000 after acquiring an additional 287,676 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Constellation Brands, Inc. Class A by 14.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,874 shares of the company’s stock worth $1,339,000 after acquiring an additional 746 shares in the last quarter. Institutional investors and hedge funds own 73.66% of the company’s stock.

Constellation Brands, Inc. Class A 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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Analyst Recommendations for Constellation Brands, Inc. Class A (NYSE:STZ)

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