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 note published on Tuesday,Benzinga reports. The firm currently has a $308.00 price target on the stock.

A number of other research firms have also recently commented on STZ. 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 note on Friday, October 4th. Bank of America reiterated a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Truist Financial dropped their price target 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. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, Barclays reduced their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

STZ opened at $240.84 on Tuesday. The company’s 50 day moving average is $243.30 and its 200 day moving average is $247.68. 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 cap of $43.73 billion, a price-to-earnings ratio of 77.94, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands has a 12-month low of $224.76 and a 12-month high of $274.87.

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

Constellation Brands Announces Dividend

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

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the firm’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 transaction of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,296 shares of company stock valued at $45,899,031. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently modified their holdings of STZ. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands during the second quarter valued at approximately $36,000. 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.