Royal Bank of Canada Lowers Constellation Brands (NYSE:STZ) Price Target to $289.00

Constellation Brands (NYSE:STZ) had its price objective decreased by analysts at Royal Bank of Canada from $293.00 to $289.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 54.84% from the company’s current price.

Several other brokerages have also recently commented on STZ. JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Truist Financial lowered their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Finally, TD Cowen lowered their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.24.

Constellation Brands Stock Up 4.3 %

Shares of Constellation Brands stock opened at $186.64 on Friday. Constellation Brands has a 1 year low of $160.46 and a 1 year high of $274.87. The business has a 50-day moving average of $184.27 and a two-hundred day moving average of $221.29. The company has a market capitalization of $33.73 billion, a P/E ratio of 50.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm 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% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. As a group, equities analysts predict that Constellation Brands will post 13.5 EPS for the current year.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Audent Global Asset Management LLC lifted its stake in shares of Constellation Brands by 165.5% during the 4th quarter. Audent Global Asset Management LLC now owns 3,427 shares of the company’s stock valued at $757,000 after buying an additional 2,136 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Constellation Brands during the 4th quarter valued at $22,028,000. Jefferies Financial Group Inc. bought a new stake in Constellation Brands in the 4th quarter valued at $944,000. Great Valley Advisor Group Inc. increased its holdings in Constellation Brands by 4.4% in the 4th quarter. Great Valley Advisor Group Inc. now owns 21,652 shares of the company’s stock valued at $4,785,000 after acquiring an additional 907 shares during the last quarter. Finally, Cypress Asset Management Inc. TX bought a new stake in Constellation Brands in the 4th quarter valued at $2,869,000. 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 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.