Constellation Brands (NYSE:STZ) Price Target Raised to $315.00 at BMO Capital Markets

Constellation Brands (NYSE:STZ) had its price objective lifted by BMO Capital Markets from $290.00 to $315.00 in a report published on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research firms have also recently commented on STZ. Wedbush reaffirmed an outperform rating and set a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Argus downgraded shares of Constellation Brands from a buy rating to a hold rating in a research note on Wednesday, January 10th. Bank of America upped their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a buy rating in a research note on Monday, March 18th. Barclays decreased their price target on shares of Constellation Brands from $296.00 to $294.00 and set an overweight rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler started coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an overweight rating and a $300.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $298.55.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $258.52 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market capitalization of $47.26 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.78 and a beta of 0.97. The firm’s 50 day simple moving average is $257.07 and its 200 day simple moving average is $247.01. Constellation Brands has a fifty-two week low of $221.81 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the company earned $1.98 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Constellation Brands will post 13.43 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 37.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after acquiring an additional 313,344 shares during the last quarter. Morgan Stanley raised its holdings in Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after buying an additional 58,518 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Constellation Brands by 84,839.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock valued at $867,309,000 after buying an additional 3,738,028 shares during the last quarter. Barclays PLC raised its holdings in Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock valued at $723,027,000 after buying an additional 1,483,668 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Constellation Brands by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 2,863,322 shares of the company’s stock valued at $645,055,000 after buying an additional 50,672 shares during the last quarter. Institutional investors 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.