Constellation Brands (NYSE:STZ) Given New $300.00 Price Target at Barclays

Constellation Brands (NYSE:STZ) had its target price lowered by Barclays from $309.00 to $300.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on STZ. Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an overweight rating on the stock in a research note on Monday, August 26th. Evercore ISI dropped their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an outperform rating on the stock in a research report on Friday. Royal Bank of Canada reissued an outperform rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Friday. Roth Mkm reaffirmed a buy rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday. Finally, Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a hold rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $292.38.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $243.07 on Monday. The firm’s 50-day moving average price is $246.53 and its two-hundred day moving average price is $253.29. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The stock has a market capitalization of $44.48 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 1.74 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that Constellation Brands will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Buying and Selling at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,414 shares of company stock worth $3,982,922. Insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at about $119,394,000. Vanguard Group Inc. increased its position in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares during the last quarter. Howland Capital Management LLC grew its holdings in Constellation Brands by 3.0% during the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after purchasing an additional 4,051 shares during the period. Quadrature Capital Ltd bought a new position in shares of Constellation Brands in the fourth quarter worth approximately $958,000. Finally, Capital International Sarl raised its stake in Constellation Brands by 35.9% during the 1st quarter. Capital International Sarl now owns 10,462 shares of the company’s stock valued at $2,843,000 after purchasing an additional 2,764 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.