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

Constellation Brands (NYSE:STZ) had its target price raised by Barclays from $287.00 to $295.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the stock. Argus upgraded shares of Constellation Brands from a hold rating to a buy rating and set a $306.00 price target on the stock in a research report on Monday, April 15th. Evercore ISI lifted their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an outperform rating in a research report on Friday, April 12th. Piper Sandler initiated coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an overweight rating and a $300.00 price target on the stock. BMO Capital Markets restated an outperform rating and issued a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $300.53.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $245.45 on Friday. Constellation Brands has a 12 month low of $227.50 and a 12 month high of $274.87. The stock has a market cap of $44.91 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.62 and a beta of 1.75. The stock’s 50 day moving average price is $253.60 and its 200 day moving average price is $255.16. 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 Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.91 earnings per share. Equities research analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s payout ratio is presently 30.10%.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction 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 of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,214 shares of company stock valued at $7,620,551. Insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors lifted its position in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares during the last quarter. Capital World Investors lifted its position in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the last quarter. Capital Research Global Investors lifted its position in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the last quarter. Finally, Norges Bank acquired a new position in Constellation Brands during the 4th quarter worth $443,844,000. 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 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.