Constellation Brands earnings top estimates as beer sales surge

Posted July 01, 2017

Recently analysts working for various investment brokerages have changed their ratings and price targets on shares of Constellation Brands Inc (NYSE:STZ). The stock rose 1.09% or $1.98 reaching $184.26 per share.

As beer continues to be a growth industry for Constellation, the maker of Svedka vodka and Corona beer could add more brands to its line up.

Hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments LLC raised its stake in Constellation Brands by 1.6% in the first quarter. Based on a recent bid, the stock is trading 4.37% away from it's 52- week high and 35.21% away from its 52 week low.

04/07/2017 - Constellation Brands Inc had its "buy" rating reiterated by analysts at Stifel Nicolaus. Envestnet Asset Management Inc. now owns 19,145 shares of the company's stock valued at $2,933,000 after buying an additional 2,340 shares in the last quarter. Coconut Grove Bank boosted its position in shares of Constellation Brands by 106.8% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company's stock valued at $115,000 after buying an additional 24 shares during the last quarter. The stock of Constellation Brands, Inc. Breaking that down further, it has performed -2.48% for the week, -15.71% for the month, -21.33% over the last quarter, 21.40% for the past half-year and -31.40% for this a year ago. Numeric Investors LLC acquired a new stake in Constellation Brands during the fourth quarter worth about $843,000. Constellation Brands earlier this month bought Schrader Cellars, a Napa Valley winery that caters to the luxury market. 1,370,224 shares of the stock traded hands. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $197.41.

The company reported $2.34 EPS for the quarter, topping the Zacks' consensus estimate of $1.98 by $0.36. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. Westfield Limited Partnership stated it has 0.94% in Constellation Brands, Inc. Taking place from June 30 to July 10, its four days longer than last year's sale. During the same period in the prior year, the firm posted $1.54 EPS. Legacy Private Trust sold 5,024 shares as Constellation Brands Inc (STZ)'s stock rose 13.40%. The original version of this article can be accessed at https://www.com-unik.info/2017/06/30/constellation-brands-inc-stz-to-issue-0-52-quarterly-dividend.html.

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Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 29th.

Argus Research maintained the shares of STZ in report on Monday, December 7 with "Buy" rating. Pivotal Research maintained it with "Buy" rating and $185.0 target in Thursday, January 7 report. Bb&T Securities Ltd Company holds 0.02% of its portfolio in Constellation Brands, Inc. Analysts giving shares a rating of 1 or 2 would be indicating a Buy.

At the movement Barnes Group Inc. Finally, Royal Bank Of Canada reissued a "buy" rating and issued a $183.00 price objective on shares of Constellation Brands in a report on Friday, March 31st.

Among 12 analysts covering Intercontinental Exchange (NYSE:ICE), 9 have Buy rating, 0 Sell and 3 Hold. They now have a $212.00 target price on the stock, up from their prior target price of $198.00.

In related news, VP Thomas J. Mullin sold 39,854 shares of Constellation Brands stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $169.55, for a total value of $6,757,245.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. The stock was sold at an average price of $170.03, for a total value of $119,021.00. Following the completion of the transaction, the director now owns 44,415 shares in the company, valued at approximately $7,686,015.75. The disclosure for this sale can be found here. 4,418 are owned by Cetera Advisors Ltd Limited Liability Company.