Constellation Brands (NYSE:STZ) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Constellation Brands (NYSE:STZ) in a report issued on Tuesday, Benzinga reports. They currently have a $308.00 price target on the stock.

A number of other analysts have also recently commented on STZ. Barclays upped their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an overweight rating in a research report on Friday, July 19th. Roth Mkm lowered their target price on Constellation Brands from $303.00 to $298.00 and set a buy rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $320.00 to $307.00 and set an overweight rating for the company in a report on Tuesday, September 3rd. BMO Capital Markets reiterated an outperform rating and set a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Finally, Jefferies Financial Group increased their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a buy rating in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $296.78.

Constellation Brands Price Performance

STZ opened at $252.85 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a fifty day simple moving average of $245.92 and a 200 day simple moving average of $253.96. The stock has a market cap of $46.27 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the company earned $2.91 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that Constellation Brands will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.60%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Insider Activity at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’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 sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,414 shares of company stock worth $3,982,922. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Hedge funds have recently bought and sold shares of the stock. New Millennium Group LLC acquired a new stake in Constellation Brands during the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands during the second quarter worth 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 acquired a new stake in Constellation Brands during the fourth quarter worth approximately $35,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.