Constellation Brands (NYSE:STZ) Given Outperform Rating at Royal Bank of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They currently have a $308.00 price target on the stock. Royal Bank of Canada’s price target suggests a potential upside of 21.35% from the stock’s current price.

A number of other analysts have also issued reports on the company. Morgan Stanley reduced their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Barclays boosted their target price on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Roth Mkm decreased their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $296.78.

Constellation Brands Stock Up 0.1 %

Constellation Brands stock traded up $0.16 during midday trading on Tuesday, hitting $253.81. 44,954 shares of the company were exchanged, compared to its average volume of 1,167,875. The company’s fifty day moving average price is $245.91 and its 200-day moving average price is $253.94. The company has a market cap of $46.44 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.91 EPS. On average, research analysts predict that Constellation Brands will post 13.53 EPS for the current fiscal year.

Insider Activity at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock valued at $3,982,922 in the last three months. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in Constellation Brands in the 2nd quarter worth approximately $16,327,000. Brown Financial Advisors bought a new position in Constellation Brands during the 2nd quarter valued at about $710,000. Strategic Investment Solutions Inc. IL purchased a new stake in Constellation Brands in the 2nd quarter worth about $285,000. Souders Financial Advisors bought a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $3,067,000. Finally, Cetera Investment Advisers boosted its position in Constellation Brands by 9.4% in the 2nd quarter. Cetera Investment Advisers now owns 44,541 shares of the company’s stock valued at $11,460,000 after buying an additional 3,825 shares during the period. 77.34% of the stock is 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 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.