Constellation Brands (NYSE:STZ) Given Outperform Rating at Royal Bank of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $308.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential upside of 28.48% from the company’s current price.

STZ has been the subject of a number of other reports. Evercore ISI lowered their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

STZ stock opened at $239.72 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a market cap of $43.52 billion, a P/E ratio of 77.58, a P/E/G ratio of 1.68 and a beta of 1.75. Constellation Brands has a 12-month low of $224.76 and a 12-month high of $274.87. The stock’s 50 day simple moving average is $243.51 and its 200 day simple moving average is $247.73.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.70 EPS. As a group, equities research analysts predict that Constellation Brands will post 13.57 EPS for the current year.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

A number of hedge funds have recently modified their holdings of STZ. Orion Portfolio Solutions LLC raised its position in shares of Constellation Brands by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after acquiring an additional 39 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Constellation Brands by 21.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,009 shares of the company’s stock worth $1,905,000 after buying an additional 1,239 shares during the period. Bessemer Group Inc. raised its holdings in Constellation Brands by 5.8% during the 1st quarter. Bessemer Group Inc. now owns 3,551 shares of the company’s stock worth $965,000 after buying an additional 194 shares during the period. Lake Street Advisors Group LLC raised its holdings in Constellation Brands by 23.5% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,209 shares of the company’s stock worth $600,000 after buying an additional 420 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Constellation Brands during the 1st quarter worth approximately $201,000. 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.