Constellation Brands (NYSE:STZ) Given New $287.00 Price Target at Barclays

Constellation Brands (NYSE:STZFree Report) had its target price lowered by Barclays from $292.00 to $287.00 in a research note released on Friday morning, BayStreet.CA reports.

A number of other research analysts have also commented on the company. Evercore ISI upped their price objective on Constellation Brands from $300.00 to $310.00 and gave the company an outperform rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on Constellation Brands from $291.00 to $320.00 and gave the company an overweight rating in a report on Friday. UBS Group upped their price objective on Constellation Brands from $315.00 to $320.00 and gave the company a buy rating in a report on Friday. Truist Financial reiterated a hold rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday. Finally, Bank of America upped their target price on Constellation Brands from $290.00 to $300.00 and gave the company a buy rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $300.11.

Read Our Latest Report on STZ

Constellation Brands Price Performance

Constellation Brands stock opened at $259.14 on Friday. The company has a market capitalization of $47.42 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.66 and a beta of 0.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands has a 12 month low of $227.50 and a 12 month high of $274.87. The stock’s 50 day moving average is $254.77 and its 200-day moving average is $253.97.

Constellation Brands (NYSE:STZGet Free Report) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the firm posted $2.91 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts expect that Constellation Brands will post 13.67 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.56%. Constellation Brands’s dividend payout ratio is presently 43.07%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,031 shares of company stock worth $12,582,321. 12.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands in the second quarter valued at about $29,000. DNB Asset Management AS increased its stake in shares of Constellation Brands by 8.9% in the second quarter. DNB Asset Management AS now owns 31,892 shares of the company’s stock valued at $8,205,000 after buying an additional 2,611 shares during the period. Moody National Bank Trust Division increased its stake in shares of Constellation Brands by 2.3% in the second quarter. Moody National Bank Trust Division now owns 6,911 shares of the company’s stock valued at $1,778,000 after buying an additional 153 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Constellation Brands by 1.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 49,969 shares of the company’s stock valued at $12,856,000 after buying an additional 634 shares during the period. Finally, GAMMA Investing LLC grew its stake in Constellation Brands by 30.1% during the second quarter. GAMMA Investing LLC now owns 5,339 shares of the company’s stock worth $1,374,000 after purchasing an additional 1,235 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

About Constellation Brands

(Get Free Report)

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.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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