Constellation Brands (NYSE:STZ) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $308.00 price target on the stock.

Several other brokerages also recently issued reports on STZ. Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an overweight rating on the stock in a research report on Monday, August 26th. Roth Mkm cut their price target on shares of Constellation Brands from $305.00 to $303.00 and set a buy rating on the stock in a report on Friday, July 5th. BMO Capital Markets reiterated an outperform rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. UBS Group upped their target price on Constellation Brands from $315.00 to $320.00 and gave the company a buy rating in a research report on Friday, July 5th. Finally, Truist Financial reaffirmed a hold rating and issued a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $298.53.

Constellation Brands Stock Up 2.6 %

Shares of NYSE STZ opened at $246.91 on Tuesday. The stock has a market capitalization of $45.18 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.75. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. The firm has a 50-day moving average price of $246.95 and a 200 day moving average price of $253.70. 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 announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.91 EPS. Equities research analysts anticipate that Constellation Brands will post 13.54 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.64%. Constellation Brands’s payout ratio is 30.10%.

Insider Activity

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 over the last 90 days. 12.19% of the stock is currently owned by company insiders.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in STZ. New Millennium Group LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the 2nd quarter valued at $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands during the first quarter worth $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands in the fourth quarter valued at $35,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.