Royal Bank of Canada Reaffirms Outperform Rating for Constellation Brands (NYSE:STZ)

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

A number of other analysts also recently issued reports on the stock. Roth Mkm restated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. JPMorgan Chase & Co. decreased 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 report on Friday, October 4th. BMO Capital Markets dropped their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Barclays decreased their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Trading Up 0.5 %

Shares of Constellation Brands stock opened at $240.84 on Tuesday. Constellation Brands has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market cap of $43.73 billion, a P/E ratio of 77.94, a P/E/G ratio of 1.70 and a beta of 0.90. The stock’s 50 day simple moving average is $243.30 and its 200-day simple moving average is $247.68.

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

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently made changes to their positions in the business. Capital International Investors lifted 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 worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors lifted its holdings in Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares during the period. International Assets Investment Management LLC lifted its holdings in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter worth $119,394,000. Finally, State Street Corp grew its stake in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the period. 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.