Constellation Brands Inc (STZ) Shares Gap Up Following Better-Than-Expected Earnings

Svedka vodka contributed to double-digit spirits sales gains for Constellation Brands in F2018 Q1

Stifel Nicolaus lifted their price objective on Constellation Brands from $201.00 to $216.00 and gave the company a "buy" rating in a research note on Friday. The stock now has a consensus rating of Buy and an average price target of $188.87. It had closed the previous session at $182.28. Of the 18 analysts surveyed by Reuters that track STZ 6 of them rate its stock a hold.

In other Constellation Brands news, VP Thomas J. Mullin sold 39,854 shares of Constellation Brands stock in a transaction dated Wednesday, April 12th. The firm has "Overweight" rating by Morgan Stanley given on Thursday, October 6. OTR Global lowered Constellation Brands to a "positive" rating in a research report on Tuesday, March 28th. Pivotal Research maintained it with "Buy" rating and $185.0 target in Thursday, January 7 report. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company.

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.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 6th. Sandhill Capital Partners Llc who had been investing in Cerner Corp Com for a number of months, seems to be bullish on the $21.81 billion market cap company. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $197.41. Shares of the company are trading at $195.63 a tad above $180.78, the 50 day moving average and which is a tad above the 200 day moving average of $163.88.

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Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, June 29th. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.98 for the quarter. Westfield Limited Partnership stated it has 0.94% in Constellation Brands, Inc. Its adjusted revenue was $1.94 billion, falling short of Street forecasts. During the same period in the prior year, the firm posted $1.54 EPS. The company has made key acquisitions of late, including whiskey maker High West late past year and Schrader Cellars wines earlier this month.

In terms of the outlook for the coming fiscal year, Constellation Brands expects to see EPS in the range of $7.55 to $7.75 on a reported basis, as well as in the range of $7.90 to $8.10 on a comparable basis.

Since May 19, 2017, it had 0 insider buys, and 9 selling transactions for $1.76 million activity. Constellation Brands's payout ratio is 27.59%.

ILLEGAL ACTIVITY WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/06/30/constellation-brands-stz-conviction-buy-rating-reiterated-at-goldman-sachs-group-inc-the.html. The stock was sold at an average price of $172.24, for a total value of $2,471,644.00. Following the completion of the transaction, the vice president now directly owns 48,900 shares of the company's stock, valued at $8,290,995.

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Drw Securities Llc increased its stake in Intercontinental Exchange In (ICE) by 400% based on its latest 2016Q4 regulatory filing with the SEC. Analyst's mean target price for STZ is $191.83 while analysts mean recommendation is 2.10.

The average 1-year price target for Constellation Brands, Inc. The disclosure for this sale can be found here. The stock has increased 17 percent in the last 12 months. The stock has "Neutral" rating by UBS on Tuesday, December 15.

Other hedge funds also recently added to or reduced their stakes in the company. Tompkins Financial Corp boosted its position in Constellation Brands by 29.4% in the first quarter. Numeric Investors LLC acquired a new stake in Constellation Brands during the fourth quarter worth about $843,000. (NYSE:STZ). Aviance Capital Prtnrs Ltd has 0.69% invested in Constellation Brands, Inc. 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. In addition, BAC's Schaeffer's Volatility Scorecard (SVS) sits at 95, indicating Bank of America stock has tended to exceed option traders' volatility expectations during the past year.

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