Constellation Brands, Inc. (NYSE:STZ) Receives Average Recommendation of “Moderate Buy” from Brokerages

Constellation Brands, Inc. (NYSE:STZ) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $290.47.

Several equities analysts have recently weighed in on STZ shares. BMO Capital Markets cut their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. 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 ninety days, insiders sold 128,210 shares of company stock worth $31,040,994. 12.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Constellation Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Constellation Brands by 2.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 43,245 shares of the company’s stock valued at $11,144,000 after acquiring an additional 1,025 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of Constellation Brands by 12.4% during the third quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock worth $364,000 after purchasing an additional 156 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Constellation Brands by 16.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 53,587 shares of the company’s stock valued at $13,809,000 after purchasing an additional 7,665 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of Constellation Brands by 0.4% in the 3rd quarter. Moors & Cabot Inc. now owns 32,141 shares of the company’s stock worth $8,282,000 after purchasing an additional 135 shares in the last quarter. Finally, NS Partners Ltd grew its stake in Constellation Brands by 2.2% during the 3rd quarter. NS Partners Ltd now owns 28,649 shares of the company’s stock worth $7,383,000 after buying an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $236.34 on Tuesday. The company has a fifty day simple moving average of $244.87 and a two-hundred day simple moving average of $248.68. Constellation Brands has a 52 week low of $224.76 and a 52 week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $42.91 billion, a P/E ratio of 76.49, a price-to-earnings-growth ratio of 1.65 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $3.70 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.71%. Constellation Brands’s payout ratio is currently 130.74%.

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.