Constellation Brands (NYSE:STZ) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Constellation Brands (NYSE:STZ) in a report published on Monday,Benzinga reports. The firm currently has a $293.00 price target on the stock.

A number of other equities research analysts also recently issued reports on STZ. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a research report on Monday, January 27th. Morgan Stanley decreased their target price on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Jefferies Financial Group restated a “hold” rating and issued a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Barclays dropped their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $245.00 to $200.00 in a report on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Constellation Brands Trading Down 3.6 %

STZ opened at $174.31 on Monday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands has a 52 week low of $166.02 and a 52 week high of $274.87. The business’s 50 day moving average is $215.42 and its two-hundred day moving average is $233.76. The firm has a market cap of $31.50 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $3.19 earnings per share. On average, research analysts predict that Constellation Brands will post 13.52 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 61,746 shares of company stock valued at $15,017,097. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands in the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands in the 4th quarter worth approximately $28,000. Versant Capital Management Inc boosted its holdings in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Constellation Brands during the fourth quarter valued at approximately $35,000. Finally, Eastern Bank purchased a new stake in Constellation Brands during the third quarter valued at approximately $39,000. Institutional investors 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.