Constellation Brands (NYSE:STZ) Price Target Raised to $295.00

Constellation Brands (NYSE:STZ) had its price objective boosted by Barclays from $294.00 to $295.00 in a report published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also issued reports on the stock. Bank of America increased their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a buy rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the company a hold rating in a report on Wednesday, April 10th. Argus raised shares of Constellation Brands from a hold rating to a buy rating and set a $306.00 price target for the company in a report on Monday. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $309.00 to $301.00 and set an overweight rating for the company in a report on Thursday, December 21st. Finally, UBS Group upped their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the company a buy rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $298.55.

Constellation Brands Stock Performance

Shares of STZ opened at $258.68 on Monday. The firm has a 50-day moving average price of $257.82 and a 200 day moving average price of $247.21. The firm has a market capitalization of $47.29 billion, a PE ratio of 27.58, a P/E/G ratio of 1.74 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands has a 52-week low of $221.81 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. On average, sell-side analysts anticipate that Constellation Brands will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is 43.07%.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Constellation Brands

A number of hedge funds have recently added to or reduced their stakes in the company. Plimoth Trust Co. LLC increased its holdings in Constellation Brands by 58.5% in the first quarter. Plimoth Trust Co. LLC now owns 5,147 shares of the company’s stock worth $1,399,000 after buying an additional 1,900 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Constellation Brands during the first quarter valued at approximately $232,000. Naviter Wealth LLC acquired a new position in Constellation Brands during the first quarter valued at approximately $204,000. West Oak Capital LLC grew its holdings in Constellation Brands by 1.3% during the first quarter. West Oak Capital LLC now owns 7,175 shares of the company’s stock valued at $1,950,000 after purchasing an additional 95 shares during the last quarter. Finally, InTrack Investment Management Inc bought a new stake in shares of Constellation Brands in the first quarter valued at approximately $465,000. 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.