Constellation Brands (NYSE:STZ) Stock Rating Reaffirmed by Royal Bank of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They currently have a $295.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 13.31% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Wedbush boosted their target price on Constellation Brands from $255.00 to $270.00 in a report on Wednesday, July 5th. Evercore ISI boosted their target price on Constellation Brands from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, July 19th. Roth Mkm boosted their target price on Constellation Brands from $270.00 to $284.00 and gave the stock a “buy” rating in a report on Monday, July 3rd. JPMorgan Chase & Co. upped their price target on Constellation Brands from $273.00 to $276.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. Finally, Roth Capital raised Constellation Brands from a “neutral” rating to a “buy” rating in a report on Tuesday, May 30th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $270.05.

Constellation Brands Price Performance

STZ opened at $260.34 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.53 and a current ratio of 1.14. Constellation Brands has a 52-week low of $208.12 and a 52-week high of $273.65. The stock has a market capitalization of $47.73 billion, a PE ratio of -142.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. The stock’s 50 day moving average price is $262.87 and its 200-day moving average price is $242.09.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, June 30th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.08. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.66 earnings per share. On average, equities research analysts predict that Constellation Brands will post 11.59 EPS for the current year.

Insider Transactions at Constellation Brands

In other news, EVP Robert Lee Hanson sold 12,299 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $268.10, for a total value of $3,297,361.90. Following the sale, the executive vice president now owns 11,862 shares in the company, valued at $3,180,202.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Constellation Brands news, EVP James O. Bourdeau sold 30,723 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $269.00, for a total transaction of $8,264,487.00. Following the transaction, the executive vice president now owns 5,500 shares in the company, valued at $1,479,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Lee Hanson sold 12,299 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $268.10, for a total value of $3,297,361.90. Following the transaction, the executive vice president now owns 11,862 shares in the company, valued at approximately $3,180,202.20. The disclosure for this sale can be found here. Insiders have sold 100,819 shares of company stock worth $27,054,755 over the last quarter. 16.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. AXS Investments LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at approximately $26,000. Old North State Trust LLC lifted its position in shares of Constellation Brands by 3,290.0% in the first quarter. Old North State Trust LLC now owns 678 shares of the company’s stock valued at $27,000 after acquiring an additional 658 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Constellation Brands by 323.1% in the second quarter. CVA Family Office LLC now owns 110 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Constellation Brands by 135.6% in the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. Finally, TimeScale Financial Inc. acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.99% 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.