Constellation Brands (NYSE:STZ) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Constellation Brands (NYSE:STZ) in a research note released on Monday morning,Benzinga reports. The firm currently has a $240.00 price target on the stock.

Several other research firms also recently issued reports on STZ. StockNews.com downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Friday, January 17th. Piper Sandler lowered their price target on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, TD Cowen cut their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.14.

Constellation Brands Trading Up 2.6 %

Constellation Brands stock opened at $187.84 on Monday. The business’s 50-day simple moving average is $221.02 and its 200-day simple moving average is $236.20. Constellation Brands has a 52 week low of $176.51 and a 52 week high of $274.87. The firm has a market capitalization of $33.95 billion, a PE ratio of 50.49, a PEG ratio of 1.58 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 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 analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. Equities research analysts forecast that Constellation Brands will post 13.52 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,746 shares of company stock worth $15,017,097. Insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STZ. Grimes & Company Inc. bought a new stake in Constellation Brands in the fourth quarter valued at about $6,099,000. Paloma Partners Management Co grew its position in shares of Constellation Brands by 568.4% during the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after buying an additional 25,512 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Constellation Brands by 3.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock valued at $21,699,000 after acquiring an additional 2,980 shares during the last quarter. Empowered Funds LLC raised its position in shares of Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after acquiring an additional 7,752 shares during the period. Finally, WealthPlan Investment Management LLC boosted its stake in Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after acquiring an additional 6,867 shares during the last quarter. 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.