Royal Bank of Canada Reiterates Outperform Rating for Constellation Brands (NYSE:STZ)

Royal Bank of Canada reiterated their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report sent to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $308.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the stock. UBS Group dropped their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Constellation Brands in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday. TD Cowen downgraded 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 report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Stock Up 0.3 %

NYSE STZ opened at $219.17 on Tuesday. The stock has a market cap of $39.79 billion, a PE ratio of 70.93, a P/E/G ratio of 1.69 and a beta of 1.75. The business has a 50 day moving average price of $232.90 and a two-hundred day moving average price of $242.14. Constellation Brands has a fifty-two week low of $217.47 and a fifty-two week high of $274.87. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.84%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Large investors have recently added to or reduced their stakes in the business. Oakworth Capital Inc. grew its stake in shares of Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares in the last quarter. PFG Investments LLC lifted its holdings in Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after purchasing an additional 42 shares during the period. Brighton Jones LLC grew its position in Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after buying an additional 43 shares in the last quarter. Metis Global Partners LLC increased its stake in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after buying an additional 46 shares during the period. Finally, Wellington Shields & Co. LLC raised its position in shares of Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after buying an additional 50 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.