Truist Financial Reiterates “Hold” Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “hold” rating reaffirmed by research analysts at Truist Financial in a research note issued on Wednesday, Benzinga reports. They currently have a $265.00 target price on the stock. Truist Financial’s price objective indicates a potential upside of 5.84% from the stock’s previous close.

STZ has been the topic of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, May 28th. BMO Capital Markets increased their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Barclays lowered their price target on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Finally, HSBC boosted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $298.63.

Constellation Brands Trading Down 3.3 %

Shares of Constellation Brands stock opened at $250.37 on Wednesday. The business has a fifty day simple moving average of $254.99 and a two-hundred day simple moving average of $254.00. Constellation Brands has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a market capitalization of $45.81 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.72 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.91 earnings per share. Research analysts forecast that Constellation Brands will post 13.67 EPS for the current year.

Insider Buying and Selling

In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 in the last ninety days. 12.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Several large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in Constellation Brands by 12.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,041 shares of the company’s stock worth $1,267,000 after buying an additional 546 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of Constellation Brands in the third quarter worth $413,000. Seven Eight Capital LP acquired a new stake in Constellation Brands in the third quarter valued at $682,000. Scotia Capital Inc. raised its position in Constellation Brands by 94.9% during the 3rd quarter. Scotia Capital Inc. now owns 4,507 shares of the company’s stock worth $1,133,000 after purchasing an additional 2,195 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in Constellation Brands by 2.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 66,390 shares of the company’s stock worth $16,695,000 after buying an additional 1,686 shares during the period. 77.34% of the stock is currently owned by 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.