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

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $308.00 price objective on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 40.53% from the stock’s current price.

Several other research firms have also recently issued reports on STZ. BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Constellation Brands in a research report on Friday, December 20th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.75.

Constellation Brands Stock Performance

STZ opened at $219.17 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. Constellation Brands has a 12-month low of $217.47 and a 12-month high of $274.87. The firm has a 50 day moving average of $233.17 and a two-hundred day moving average of $242.30. The firm has a market capitalization of $39.79 billion, a PE ratio of 70.93, a P/E/G ratio of 1.69 and a beta of 1.75.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was 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 represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last 90 days. 12.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Hedge funds have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. lifted its stake in shares of Constellation Brands by 9.0% during the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock valued at $1,929,000 after buying an additional 718 shares during the period. Doliver Advisors LP purchased a new position in shares of Constellation Brands during the 4th quarter worth $348,000. Nordea Investment Management AB boosted its holdings in shares of Constellation Brands by 10.7% during the fourth quarter. Nordea Investment Management AB now owns 164,505 shares of the company’s stock worth $36,446,000 after purchasing an additional 15,942 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the period. Finally, Copley Financial Group Inc. acquired a new position in Constellation Brands in the third quarter valued at $455,000. 77.34% of the stock is 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.