Constellation Brands’ (STZ) “Buy” Rating Reaffirmed at Roth Mkm

Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating reiterated by equities researchers at Roth Mkm in a note issued to investors on Friday, Benzinga reports. They currently have a $298.00 target price on the stock. Roth Mkm’s price objective suggests a potential upside of 21.05% from the stock’s current price.

Several other equities research analysts also recently issued reports on STZ. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Friday. UBS Group lowered their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Evercore ISI decreased their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday. Finally, Morgan Stanley lowered their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $296.63.

Constellation Brands Trading Up 1.0 %

Shares of NYSE:STZ traded up $2.53 during trading on Friday, reaching $246.18. 178,577 shares of the stock were exchanged, compared to its average volume of 1,176,962. Constellation Brands has a 12-month low of $227.50 and a 12-month high of $274.87. The firm’s 50-day moving average price is $246.67 and its 200 day moving average price is $253.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market cap of $45.05 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.21. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. 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 firm earned $3.70 earnings per share. On average, sell-side analysts anticipate that Constellation Brands will post 13.53 earnings per share for the current fiscal year.

Insider Activity at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Garth Hankinson sold 13,583 shares of the firm’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 completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 in the last quarter. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Institutional investors have recently made changes to their positions in the stock. Rafferty Asset Management LLC grew its holdings in shares of Constellation Brands by 4.4% during the 4th quarter. Rafferty Asset Management LLC now owns 12,541 shares of the company’s stock valued at $3,032,000 after acquiring an additional 525 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Constellation Brands by 3.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 10,496 shares of the company’s stock valued at $2,537,000 after purchasing an additional 367 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Constellation Brands by 64.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 19,339 shares of the company’s stock worth $4,675,000 after purchasing an additional 7,589 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Constellation Brands by 2.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,256 shares of the company’s stock worth $1,271,000 after purchasing an additional 121 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Constellation Brands by 18.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 9,953 shares of the company’s stock worth $2,406,000 after purchasing an additional 1,542 shares in the last quarter. 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.