Royal Bank of Canada Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective decreased by Royal Bank of Canada from $293.00 to $289.00 in a research note released on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

STZ has been the subject of a number of other reports. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Morgan Stanley downgraded shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. UBS Group reduced their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price objective on shares of Constellation Brands in a report on Monday, January 27th. Finally, TD Cowen reduced their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $253.24.

Constellation Brands Price Performance

STZ opened at $186.64 on Friday. The company has a fifty day simple moving average of $184.27 and a 200 day simple moving average of $221.45. The firm has a market cap of $33.73 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands has a twelve month low of $160.46 and a twelve month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $3.19 earnings per share. Equities research analysts expect that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.16%. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Audent Global Asset Management LLC grew its stake in shares of Constellation Brands by 165.5% in the fourth quarter. Audent Global Asset Management LLC now owns 3,427 shares of the company’s stock worth $757,000 after purchasing an additional 2,136 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Constellation Brands in the fourth quarter worth $22,028,000. Jefferies Financial Group Inc. bought a new position in shares of Constellation Brands in the fourth quarter worth $944,000. Great Valley Advisor Group Inc. grew its stake in shares of Constellation Brands by 4.4% in the fourth quarter. Great Valley Advisor Group Inc. now owns 21,652 shares of the company’s stock worth $4,785,000 after purchasing an additional 907 shares in the last quarter. Finally, Cypress Asset Management Inc. TX bought a new position in shares of Constellation Brands in the fourth quarter worth $2,869,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

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.