Constellation Brands (NYSE:STZ) Raised to “Buy” at Argus

Argus upgraded shares of Constellation Brands (NYSE:STZ) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has $306.00 price target on the stock.

Several other research firms have also recently issued reports on STZ. Royal Bank of Canada raised their price target on Constellation Brands from $295.00 to $308.00 and gave the company an outperform rating in a report on Friday. Bank of America raised their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a buy rating in a report on Monday, March 18th. Jefferies Financial Group raised their target price on Constellation Brands from $292.00 to $314.00 and gave the stock a buy rating in a report on Friday. Evercore ISI raised their target price on Constellation Brands from $300.00 to $310.00 and gave the stock an outperform rating in a report on Friday. Finally, Wedbush restated an outperform rating and set a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $298.55.

Constellation Brands Price Performance

Constellation Brands stock opened at $258.52 on Monday. The business’s 50-day simple moving average is $257.07 and its 200 day simple moving average is $247.01. The stock has a market cap of $47.26 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.78 and a beta of 0.97. Constellation Brands has a 12-month low of $221.81 and a 12-month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.98 earnings per share. As a group, research analysts anticipate that Constellation Brands will post 13.43 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is currently 37.95%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Burns Matteson Capital Management LLC grew its stake in Constellation Brands by 1.7% in the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after purchasing an additional 42 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in shares of Constellation Brands by 1.8% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after acquiring an additional 42 shares during the period. FAS Wealth Partners Inc. boosted its stake in shares of Constellation Brands by 3.5% during the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after acquiring an additional 43 shares during the period. Smithfield Trust Co boosted its stake in shares of Constellation Brands by 5.3% during the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after acquiring an additional 43 shares during the period. Finally, Copperwynd Financial LLC boosted its stake in shares of Constellation Brands by 1.6% during the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock worth $672,000 after acquiring an additional 43 shares during the period. 77.34% of the stock is currently owned by institutional investors.

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.