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

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They currently have a $308.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 22.71% from the company’s current price.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. JPMorgan Chase & Co. cut their price objective on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. UBS Group lowered their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Roth Mkm lowered their price objective on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group increased their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands Stock Performance

Shares of STZ opened at $251.00 on Tuesday. Constellation Brands has a 12-month low of $227.50 and a 12-month high of $274.87. The stock has a market cap of $45.93 billion, a P/E ratio of 18.70, a PEG ratio of 1.69 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. The company has a 50-day moving average of $245.88 and a two-hundred day moving average of $253.94.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping 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 23.72% and a net margin of 22.70%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.91 EPS. As a group, research analysts predict that Constellation Brands will post 13.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on 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 sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s 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 owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. 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 over the last quarter. 12.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Constellation Brands in the fourth quarter valued at about $443,844,000. Wells Fargo & Company MN raised its position in shares of Constellation Brands by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 742,735 shares of the company’s stock valued at $179,556,000 after acquiring an additional 4,588 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Constellation Brands by 12.3% during the fourth quarter. Clearbridge Investments LLC now owns 497,756 shares of the company’s stock worth $120,333,000 after purchasing an additional 54,377 shares during the last quarter. Sachetta LLC acquired a new position in Constellation Brands in the fourth quarter worth $58,000. Finally, D.A. Davidson & CO. increased its stake in Constellation Brands by 0.4% during the fourth quarter. D.A. Davidson & CO. now owns 47,635 shares of the company’s stock valued at $11,516,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

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.