Constellation Brands (NYSE:STZ) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Constellation Brands (NYSE:STZ) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $308.00 price target on the stock.

A number of other equities research analysts have also recently commented on STZ. Barclays increased their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an overweight rating in a research report on Friday, July 19th. Morgan Stanley reduced their target price on Constellation Brands from $305.00 to $280.00 and set an overweight rating for the company in a research note on Monday, August 26th. JPMorgan Chase & Co. upped their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the company an overweight rating in a report on Friday, July 5th. Jefferies Financial Group increased their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a buy rating in a report on Friday, July 5th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $315.00 price objective on shares of Constellation Brands in a report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $298.53.

Constellation Brands Trading Up 2.6 %

Shares of STZ opened at $246.91 on Tuesday. The firm has a market capitalization of $45.18 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.59 and a beta of 1.75. The company has a 50-day moving average of $246.95 and a 200 day moving average of $253.70. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.91 earnings per share. On average, research analysts expect that Constellation Brands will post 13.54 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock worth $3,982,922 in the last ninety days. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors have recently modified their holdings of the business. New Millennium Group LLC purchased a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the second quarter worth $32,000. YHB Investment Advisors Inc. purchased a new position in Constellation Brands during the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands in the fourth quarter valued at $35,000. Institutional investors and hedge funds 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.