Constellation Brands’ (STZ) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Constellation Brands (NYSE:STZ) in a report published on Tuesday morning,Benzinga reports. They currently have a $308.00 target price on the stock.

A number of other analysts also recently commented on the stock. Bank of America reissued a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Constellation Brands in a report on Friday, December 20th. Barclays dropped their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Finally, Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $284.75.

Constellation Brands Price Performance

Constellation Brands stock opened at $219.17 on Tuesday. The company has a market cap of $39.79 billion, a P/E ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. Constellation Brands has a one year low of $217.47 and a one year high of $274.87. The business has a fifty day moving average of $232.90 and a two-hundred day moving average of $242.14. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.84%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Constellation Brands

A number of large investors have recently modified their holdings of STZ. Oakworth Capital Inc. grew its holdings in shares of Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares during the period. PFG Investments LLC grew its stake in Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after buying an additional 42 shares during the period. Brighton Jones LLC increased its position in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after acquiring an additional 43 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after acquiring an additional 46 shares during the period. Finally, Wellington Shields & Co. LLC lifted its holdings in shares of Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

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.