HSBC Raises Constellation Brands (NYSE:STZ) Price Target to $300.00

Constellation Brands (NYSE:STZ) had its price objective raised by HSBC from $290.00 to $300.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on STZ. BMO Capital Markets increased their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the company an outperform rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a hold rating 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 report on Wednesday, January 10th. TheStreet downgraded shares of Constellation Brands from a b rating to a c+ rating in a research report on Friday, January 5th. Finally, Piper Sandler initiated coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They set an overweight rating and a $300.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $298.11.

Constellation Brands Trading Down 2.3 %

NYSE:STZ opened at $262.24 on Friday. The company’s 50 day moving average price is $256.84 and its 200-day moving average price is $246.96. Constellation Brands has a 52 week low of $221.81 and a 52 week high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.82 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands will post 13.43 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.54%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

Institutional Trading of Constellation Brands

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Private Wealth Services LLC raised its position in shares of Constellation Brands by 17.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock valued at $4,327,000 after purchasing an additional 2,526 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Constellation Brands by 15.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock valued at $8,151,000 after purchasing an additional 4,311 shares during the period. Perigon Wealth Management LLC grew its stake in Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after acquiring an additional 1,893 shares in the last quarter. CoreCap Advisors LLC grew its stake in Constellation Brands by 35.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after acquiring an additional 528 shares in the last quarter. Finally, Ascent Wealth Partners LLC purchased a new position in Constellation Brands during the fourth quarter valued at $962,000. 77.34% of the stock is currently owned by institutional investors.

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.