Truist Financial Reiterates Hold Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “hold” rating restated by Truist Financial in a report issued on Wednesday, Benzinga reports. They currently have a $265.00 target price on the stock. Truist Financial’s price target suggests a potential upside of 5.84% from the company’s current price.

STZ has been the subject of several other research reports. Evercore ISI increased their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research note on Wednesday, April 10th. HSBC upped their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Piper Sandler began coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.63.

Constellation Brands Stock Performance

Shares of STZ stock opened at $250.37 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market cap of $45.81 billion, a PE ratio of 26.69, a P/E/G ratio of 1.72 and a beta of 0.87. The company’s fifty day simple moving average is $254.99 and its 200-day simple moving average is $254.00. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.91 EPS. As a group, equities research analysts anticipate that Constellation Brands will post 13.67 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock valued at $12,582,321 over the last quarter. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the period. Capital International Investors increased its holdings in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors raised its stake in shares of Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Morgan Stanley lifted its holdings in Constellation Brands by 1.5% in the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares during the period. Finally, Capital Research Global Investors grew its position in Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

About Constellation Brands

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.