Constellation Brands (NYSE:STZ) Raised to Buy at Argus

Argus upgraded shares of Constellation Brands (NYSE:STZ) from a hold rating to a buy rating in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have $306.00 price objective on the stock.

Several other research analysts have also commented on STZ. Roth Mkm reissued a buy rating and issued a $305.00 price target on shares of Constellation Brands in a research report on Friday, April 12th. Barclays dropped their target price on Constellation Brands from $296.00 to $294.00 and set an overweight rating on the stock in a research note on Friday, April 5th. HSBC boosted their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a buy rating in a research note on Friday, April 12th. Wedbush restated an outperform rating and set a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. Finally, UBS Group boosted their target price on Constellation Brands from $312.00 to $320.00 and gave the stock a buy rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $298.55.

Constellation Brands Trading Down 0.2 %

STZ opened at $257.31 on Monday. The firm has a market cap of $47.04 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.75 and a beta of 0.97. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands has a 12 month low of $221.81 and a 12 month high of $274.87. The stock has a fifty day moving average price of $257.51 and a 200-day moving average price of $247.13.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 EPS. As a group, equities research analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $1.01 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.57%. Constellation Brands’s dividend payout ratio is presently 37.95%.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.19% of the company’s stock.

Institutional Trading of Constellation Brands

Hedge funds have recently modified their holdings of the stock. Indiana Trust & Investment Management CO acquired a new position in Constellation Brands in the 3rd quarter worth about $25,000. Impact Partnership Wealth LLC raised its holdings in Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares during the period. BKM Wealth Management LLC acquired a new position in Constellation Brands in the 4th quarter worth about $28,000. Asset Dedication LLC raised its holdings in Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new position in Constellation Brands in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.