Constellation Brands (NYSE:STZ) Stock Keeps Outperform Rating at Royal Bank Of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research report issued on Friday, Benzinga reports. They presently have a $185.00 target price on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 63.69% from the company’s current price.

Several other brokerages have also recently commented on STZ. Piper Sandler reiterated a “neutral” rating and issued a $160.00 price target on shares of Constellation Brands in a research note on Wednesday, July 1st. Sanford C. Bernstein decreased their price target on shares of Constellation Brands from $197.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday. UBS Group decreased their price target on shares of Constellation Brands from $168.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a research note on Friday, July 31st. Finally, Wells Fargo & Company decreased their price objective on Constellation Brands from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $158.90.

Constellation Brands Price Performance

NYSE STZ traded up $0.03 during trading hours on Friday, reaching $113.02. The company’s stock had a trading volume of 164,403 shares, compared to its average volume of 2,211,262. The firm’s 50-day moving average price is $127.30 and its 200-day moving average price is $139.44. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.06. Constellation Brands has a 1 year low of $111.54 and a 1 year high of $168.60. The company has a market capitalization of $19.30 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 2.24 and a beta of 0.44.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.27). Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the firm posted $3.22 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands will post 11.81 EPS for the current fiscal year.

Institutional Trading of Constellation Brands

Several hedge funds and other institutional investors have recently bought and sold shares of STZ. Junto Capital Management LP purchased a new stake in Constellation Brands during the 2nd quarter valued at $21,683,000. Engineers Gate Manager LP purchased a new stake in Constellation Brands in the 2nd quarter worth about $1,645,000. Cidel Asset Management Inc. raised its position in Constellation Brands by 12.2% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,921 shares of the company’s stock worth $267,000 after purchasing an additional 209 shares during the period. Integrated Wealth Concepts LLC raised its position in Constellation Brands by 11.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 10,631 shares of the company’s stock worth $1,479,000 after purchasing an additional 1,090 shares during the period. Finally, NewEdge Advisors LLC raised its position in Constellation Brands by 8.4% in the 2nd quarter. NewEdge Advisors LLC now owns 33,106 shares of the company’s stock worth $4,605,000 after purchasing an additional 2,552 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation’s products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.