Constellation Brands’ (STZ) Outperform Rating Reaffirmed at Royal Bank Of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reissued by Royal Bank Of Canada in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $185.00 target price on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 64.68% from the company’s current price.

Several other research analysts have also commented on the company. Piper Sandler restated a “neutral” rating and set a $160.00 price target on shares of Constellation Brands in a research report on Wednesday, July 1st. BNP Paribas Exane decreased their target price on Constellation Brands from $115.00 to $110.00 and set an “underperform” rating for the company in a report on Monday, September 21st. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 target price on shares of Constellation Brands in a report on Thursday, July 2nd. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $165.00 to $133.00 and set a “neutral” rating for the company in a report on Friday, September 25th. Finally, Wells Fargo & Company decreased their target price on Constellation Brands from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Hold” and a consensus target price of $158.90.

Constellation Brands Trading Down 0.6%

STZ stock traded down $0.65 during midday trading on Friday, hitting $112.34. 188,019 shares of the company’s stock were exchanged, compared to its average volume of 2,211,815. The business has a 50-day simple moving average of $127.30 and a two-hundred day simple moving average of $139.44. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $19.19 billion, a PE ratio of 10.72, a P/E/G ratio of 2.24 and a beta of 0.44. Constellation Brands has a 1-year low of $111.54 and a 1-year high of $168.60.

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

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in STZ. Capital International Investors increased its position in shares of Constellation Brands by 48.5% during the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after purchasing an additional 2,105,546 shares in the last quarter. Nykredit A S acquired a new stake in shares of Constellation Brands during the second quarter worth about $83,687,000. Capital World Investors increased its position in shares of Constellation Brands by 8.3% during the fourth quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock worth $998,740,000 after purchasing an additional 553,974 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Constellation Brands by 11.0% during the fourth quarter. Van ECK Associates Corp now owns 2,397,275 shares of the company’s stock worth $330,728,000 after purchasing an additional 237,073 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Constellation Brands during the second quarter worth about $31,582,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

About Constellation Brands

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.