Constellation Brands (NYSE:STZ) Price Target Lowered to $233.00 at Royal Bank of Canada

Constellation Brands (NYSE:STZ) had its price target trimmed by Royal Bank of Canada from $289.00 to $233.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. Evercore ISI cut their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $215.00 price objective on shares of Constellation Brands in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $203.00 to $194.00 and set a “neutral” rating for the company in a report on Friday. Finally, Citigroup cut their target price on Constellation Brands from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Hold” and an average price target of $228.50.

Constellation Brands Price Performance

STZ stock opened at $187.41 on Monday. Constellation Brands has a 1 year low of $160.46 and a 1 year high of $265.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm has a market capitalization of $33.87 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business has a 50 day simple moving average of $177.15 and a 200-day simple moving average of $208.21.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business earned $2.26 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be paid a $1.02 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands’s dividend payout ratio is currently -792.16%.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in Constellation Brands in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands during the fourth quarter worth about $28,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Constellation Brands in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 77.34% 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 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.