BMO Capital Markets Cuts Constellation Brands (NYSE:STZ) Price Target to $305.00

Constellation Brands (NYSE:STZ) had its price objective reduced by BMO Capital Markets from $315.00 to $305.00 in a research report report published on Tuesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $307.00 to $293.00 and set an overweight rating for the company in a research note on Friday, October 4th. Roth Mkm reiterated a buy rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Barclays cut their target price on shares of Constellation Brands from $309.00 to $300.00 and set an overweight rating for the company in a research note on Monday, October 7th. Evercore ISI dropped their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an outperform rating for the company in a research report on Friday, October 4th. Finally, TD Cowen cut shares of Constellation Brands from a buy rating to a hold rating and dropped their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of Moderate Buy and an average target price of $290.47.

Constellation Brands Stock Down 0.7 %

STZ stock opened at $244.00 on Tuesday. Constellation Brands has a twelve month low of $227.64 and a twelve month high of $274.87. The company has a market cap of $44.65 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The business’s 50-day simple moving average is $246.39 and its 200 day simple moving average is $251.89. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 earnings per share. On average, research analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Activity

In related news, 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 transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,947 shares of company stock valued at $4,098,736 in the last quarter. Company insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in STZ. Capital International Investors lifted its position in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares in the last quarter. Capital World Investors lifted its position in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after buying an additional 723,549 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Constellation Brands during the 2nd quarter worth about $119,394,000. Vanguard Group Inc. lifted its position in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Finally, Boston Partners lifted its position in Constellation Brands by 50.9% during the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after buying an additional 328,881 shares in the last quarter. 77.34% of the stock is 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.