Constellation Brands linked to acquisition of Brown-Forman
- Author: Zachary Reyes May 25, 2017,
May 25, 2017, 6:25
Stifel Nicolaus lifted their target price on shares of Brown-Forman from $42.00 to $45.00 and gave the stock a hold rating in a research note on Wednesday, March 8th.
Shares of Brown-Forman, which has a market cap of about $22 billion, fell 3.8 percent to $54.93 in late afternoon trading on Tuesday.
Looking at the current price of the stock and the 52 week high and low, it suggests that the stock is likely to go Down in the future. With the firm's stock price now trading around $54.22, the firm has proven a solid track record of growth over the past few years. The company was initiated on Friday, September 16 by Credit Suisse.
Several other brokerages have also recently issued reports on BF.B. The firm has "Neutral" rating by Sterne Agee CRT given on Friday, February 26.
The business began when then-pharmaceuticals salesman George Garvin Brown started JTS Brown & Bros. with his half-brother. The stock has "Hold" rating by SunTrust on Thursday, December 22. The company was maintained on Thursday, December 8 by Stifel Nicolaus. About 1.44 million shares traded or 58.32% up from the average. RBC Capital Markets downgraded the shares of BF.B in report on Monday, January 4 to "Sector Perform" rating. It has a 20.28 P/E ratio. After $0.71 actual earnings per share reported by Chemical Financial Corporation for the previous quarter, Wall Street now forecasts 2.82% EPS growth. The stock of Brown-Forman Corporation (NYSE:BF.B) earned "Buy" rating by Stifel Nicolaus on Thursday, August 27. The Firm has a portfolio of approximately 40 spirit, wine and ready-to-drink cocktail brands.
At the end of Mar reporting period, 198 institutional holders increased their position in Brown-Forman Corporation (NYSE:BF-B) by some 19,346,094 shares, 201 decreased positions by 9,020,169 and 86 held positions by 83,008,333.