Constellation Brands’ (STZ) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $308.00 price target on the stock.

Several other equities analysts also recently commented on the stock. BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Evercore ISI lowered their target price 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, October 4th. Bank of America reissued a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. UBS Group lowered their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Trading Down 0.5 %

NYSE STZ opened at $239.66 on Tuesday. Constellation Brands has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $43.51 billion, a PE ratio of 77.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The firm’s fifty day simple moving average is $243.04 and its 200-day simple moving average is $247.56.

Constellation Brands (NYSE:STZ) last posted its quarterly 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 net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the business posted $3.70 earnings per share. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is presently 130.74%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock worth $46,058,091. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Hedge funds have recently modified their holdings of the company. New Millennium Group LLC acquired a new stake in shares of Constellation Brands during the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands during the second quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the second quarter worth approximately $32,000. LRI Investments LLC acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $37,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the second quarter worth approximately $36,000. 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.