Barclays Raises Constellation Brands (NYSE:STZ) Price Target to $309.00

Constellation Brands (NYSE:STZ) had its price target upped by equities research analysts at Barclays from $295.00 to $309.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 22.50% from the stock’s previous close.

Several other brokerages have also issued reports on STZ. Roth Mkm decreased their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.12.

Constellation Brands Price Performance

NYSE STZ traded down $2.57 during trading on Tuesday, reaching $252.25. 217,369 shares of the company traded hands, compared to its average volume of 1,175,192. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The stock’s 50 day moving average price is $245.53 and its two-hundred day moving average price is $253.98. The company has a market cap of $46.16 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.91 earnings per share. As a group, analysts anticipate that Constellation Brands will post 13.53 EPS for the current year.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Constellation Brands 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 transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. New Millennium Group LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the 2nd quarter valued at $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Constellation Brands during the 1st quarter worth $35,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Constellation Brands during the 4th quarter worth $35,000. 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.