Constellation Brands (NYSE:STZ) Given New $300.00 Price Target at Evercore ISI

Constellation Brands (NYSE:STZ) had its price objective decreased by Evercore ISI from $310.00 to $300.00 in a research report released on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on STZ. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $320.00 to $307.00 and set an overweight rating for the company in a report on Tuesday, September 3rd. BMO Capital Markets reissued an outperform rating and issued a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Barclays lifted their price target on shares of Constellation Brands from $295.00 to $309.00 and gave the company an overweight rating in a research note on Tuesday, September 24th. Roth Mkm dropped their price objective on Constellation Brands from $303.00 to $298.00 and set a buy rating on the stock in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a buy rating in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $292.38.

Constellation Brands Stock Down 1.5 %

Shares of STZ opened at $243.07 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average of $246.53 and a 200 day moving average of $253.29. The company has a market cap of $44.48 billion, a PE ratio of 18.11, a P/E/G ratio of 1.74 and a beta of 1.75. Constellation Brands has a 52-week low of $227.50 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 EPS. On average, sell-side analysts expect that Constellation Brands will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insiders Place Their Bets

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred on 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 owns 3,232 shares in the company, valued at approximately $815,853.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Constellation Brands

Several large investors have recently made changes to their positions in STZ. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the second quarter valued at approximately $119,394,000. Vanguard Group Inc. boosted its holdings in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Howland Capital Management LLC grew its position in Constellation Brands by 3.0% during the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after buying an additional 4,051 shares during the period. Seven Eight Capital LP increased its holdings in Constellation Brands by 1,086.0% in the fourth quarter. Seven Eight Capital LP now owns 32,175 shares of the company’s stock valued at $7,778,000 after buying an additional 29,462 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Constellation Brands in the fourth quarter worth about $958,000. 77.34% of the stock is owned by hedge funds and other 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.