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

Royal Bank of Canada restated their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research note released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $308.00 price target on the stock.

Other research analysts have also issued research reports about the company. Truist Financial lowered 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. Evercore ISI dropped their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. UBS Group decreased their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Barclays dropped their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Finally, TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and decreased their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Trading Up 1.0 %

Shares of NYSE STZ opened at $240.44 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a market cap of $43.65 billion, a price-to-earnings ratio of 77.81, a PEG ratio of 1.68 and a beta of 0.90. The business has a 50 day simple moving average of $243.70 and a 200 day simple moving average of $247.79. Constellation Brands has a 52 week low of $224.76 and a 52 week high of $274.87.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. This trade represents a 21.65 % 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 worth $45,899,031. Corporate insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Large investors have recently modified their holdings of the stock. New Millennium Group LLC bought a new position in Constellation Brands in the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the second quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands in the second quarter valued at about $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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 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.