Royal Bank of Canada Reaffirms “Outperform” Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They currently have a $308.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 24.94% from the stock’s previous close.

STZ has been the topic of several other reports. Evercore ISI reduced their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Morgan Stanley reduced their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $296.63.

Constellation Brands Stock Up 1.2 %

NYSE STZ opened at $246.52 on Friday. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business’s fifty day simple moving average is $246.67 and its 200-day simple moving average is $253.64. The firm has a market cap of $45.11 billion, a PE ratio of 18.30, a P/E/G ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $0.21. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 EPS. As a group, equities analysts anticipate that Constellation Brands will post 13.53 earnings per share for the current year.

Insider Transactions at Constellation Brands

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

Institutional Trading of Constellation Brands

A number of large investors have recently made changes to their positions in STZ. New Millennium Group LLC acquired a new stake in shares of Constellation Brands during the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands during the second quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the second quarter valued at $32,000. YHB Investment Advisors Inc. acquired a new stake in shares of Constellation Brands during the first quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Constellation Brands during the fourth quarter worth about $35,000. Institutional investors and hedge funds 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.