Constellation Brands (NYSE:STZ) Stock Rating Reaffirmed by Royal Bank of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $308.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 24.89% from the company’s current price.

A number of other brokerages have also weighed in on STZ. BMO Capital Markets restated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a report on Friday, July 5th. Morgan Stanley lowered their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Truist Financial reiterated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, July 3rd. Roth Mkm decreased their target price on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research note on Friday, July 5th. Finally, Barclays upped their price target on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $298.26.

Constellation Brands Trading Down 0.1 %

Shares of STZ stock opened at $246.61 on Tuesday. The stock has a 50 day simple moving average of $246.66 and a 200-day simple moving average of $253.65. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a market cap of $45.12 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.59 and a beta of 1.75. 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 posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm posted $2.91 EPS. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that Constellation Brands will post 13.54 EPS for the current fiscal year.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the 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 sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 over the last ninety days. Company insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in STZ. New Millennium Group LLC acquired a new position in shares of Constellation Brands during the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the second quarter worth approximately $32,000. YHB Investment Advisors Inc. acquired a new stake in Constellation Brands during the first quarter worth approximately $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $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.