The Vanguard Group, Inc. recently announced the acquisition of new stake in Constellation Brands Inc. (NYSE:STZ). The institutional investor has increased its shareholding in the Consumer Defensive company by 6.79% to 12.42 million shares with purchase of 0.79 million shares. This fresh investment now brings its stake to 6.74% valued currently at $2.78 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.17 million to 7.03 million shares. And BlackRock Fund Advisors has lifted its position by 2.19% or 0.15 million shares – to 6.79 million shares.
With over 1.93 million Constellation Brands Inc. (STZ) shares trading Monday and a closing price of $211.00 on the day, the dollar volume was approximately $407.07 million. The shares have shown a negative half year performance of -14.47% and its price on 03/13/23 lost nearly -0.47%. Currently, there are 189.88M common shares owned by the public and among those 149.71M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for STZ have a consensus price objective of $254.34. The analysts have set the share’s price value over the next 12 months at a high of $300.00 and a low of $200.00. The average price target is 17.11% above its recent price level and a downside to the estimated low will see the stock lose -5.5% over that period. But an upside of 29.67% will see the stock hit the forecast high price target while median target price for the stock is $262.90.
Insiders at the company have transacted a total of 83 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 65,923,194 shares. Insider sales of the common stock occurred on 40 occasions, with total insider shares sold totaling 22,282,047 shares.
The top 3 mutual fund holders in Constellation Brands Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame. Vanguard Total Stock Market Index owns 4.81 million shares of the company’s stock, all valued at over $1.08 billion. The company bought an additional 39210.0 shares recently to bring their total holdings to about 2.61% of the shares outstanding. Vanguard 500 Index Fund bought 8872.0 shares to see its total holdings expand to 3.76 million shares valued at over $841.38 million and representing 2.04% of the shares outstanding. American Funds Growth Fund of Ame sold 9100.0 shares to bring its total holdings to over 2.43 million shares at a value of $542.65 million. American Funds Growth Fund of Ame now owns shares totaling to 1.32% of the shares outstanding.
Shares of Constellation Brands Inc. (NYSE: STZ) opened at $211.99, down -$0.01 from a prior closing price of $212.00. However, the script later moved the day high at 213.87, down -0.47%. The company’s stock has a 5-day price change of -4.33% and -14.36% over the past three months. STZ shares are trading -8.95% year to date (YTD), with the 12-month market performance down to -1.24% lower. It has a 12-month low price of $208.12 and touched a high of $261.52 over the same period. STZ has an average intraday trading volume of 1.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.30%, -6.10%, and -11.08% respectively.
Institutional ownership of Constellation Brands Inc. (NYSE: STZ) shares accounts for 73.70% of the company’s 189.88M shares outstanding. Mutual fund holders own 32.97%, while other institutional holders and individual stakeholders account for 42.72% and 15.59% respectively.
It has a market capitalization of $39.63B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 624.26, while the earnings-per-share (ttm) stands at $0.34. The company has a PEG of 72.39 and a Quick Ratio of 0.60 with the debt-to-equity ratio at 1.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.82% over the week and 1.60% over the month.
Analysts forecast that Constellation Brands Inc. (STZ) will achieve an EPS of $1.85 for the current quarter, $2.77 for the next quarter and $11.67 for 2024. The lowest estimate earnings-per-share for the quarter is $1.64 while analysts give the company a high EPS estimate of $2.34. Comparatively, EPS for the current quarter was $2.37 a year ago. Earnings per share for the fiscal year are expected to decrease by -102.30%, and 11.21% over the next financial year. EPS should grow at an annualized rate of 8.62% over the next five years, compared to -15.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate Constellation Brands Inc. (STZ) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 7 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the STZ, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on February 17, 2023, with the firm’s price target at $265. Cowen coverage for the Constellation Brands Inc. (STZ) stock in a research note released on January 06, 2023 offered a Market Perform rating with a price target of $200. Wedbush was of a view on October 11, 2022 that the stock is Outperform, while BMO Capital Markets gave the stock Outperform rating on August 02, 2022, issuing a price target of $290. Redburn on their part issued Buy rating on July 13, 2022.
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