Constellation Brands (NYSE:STZ) Earns “Buy” Rating from Roth Mkm

Roth Mkm restated their buy rating on shares of Constellation Brands (NYSE:STZ) in a research note published on Friday morning, Benzinga reports. They currently have a $298.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. 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. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a hold rating for the company in a report on Friday. Evercore ISI lowered their price target on shares of Constellation Brands from $310.00 to $300.00 and set an outperform rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced 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 note on Tuesday, September 3rd. Finally, UBS Group cut their price target on shares of Constellation Brands from $320.00 to $295.00 and set a buy rating on the stock in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Constellation Brands presently has an average rating of Moderate Buy and a consensus price target of $295.75.

Constellation Brands Trading Up 1.2 %

Shares of NYSE STZ opened at $246.67 on Friday. The stock has a market capitalization of $45.13 billion, a P/E ratio of 18.38, a PEG ratio of 1.74 and a beta of 1.75. The business’s 50 day moving average is $246.53 and its two-hundred day moving average is $253.29. 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 announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.70 earnings per share. As a group, research analysts expect that Constellation Brands will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Buying and Selling

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’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 value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’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 completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Hedge funds have recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands in the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the 2nd quarter worth about $32,000. YHB Investment Advisors Inc. purchased a new position in Constellation Brands during the first quarter worth approximately $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands in the fourth quarter valued at approximately $35,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.