Constellation Brands (NYSE:STZ) Earns Neutral Rating from Bank of America

Bank of America reissued their neutral rating on shares of Constellation Brands (NYSE:STZ) in a research note published on Monday, MarketBeat.com reports. They currently have a $255.00 price target on the stock, down from their prior price target of $300.00.

Several other equities research analysts have also commented on STZ. Roth Mkm restated a buy rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Truist Financial reduced their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a hold rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. reduced their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an overweight rating for the company in a research note on Friday, October 4th. Evercore ISI reduced their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an outperform rating for the company in a research note on Friday, October 4th. Finally, Morgan Stanley reduced their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an overweight rating for the company in a research note on Monday, August 26th. Four 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, the stock presently has an average rating of Moderate Buy and a consensus target price of $291.06.

Constellation Brands Trading Down 0.3 %

NYSE:STZ opened at $239.60 on Monday. Constellation Brands has a one year low of $227.50 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market cap of $43.84 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.74 and a beta of 1.75. The firm has a 50-day simple moving average of $246.33 and a 200-day simple moving average of $252.82.

Constellation Brands (NYSE:STZ) last posted 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. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business posted $3.70 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of hedge funds have recently added to or reduced their stakes in STZ. New Millennium Group LLC purchased a new position in Constellation Brands during the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands during the second quarter valued at $29,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands during the second quarter valued at $32,000. YHB Investment Advisors Inc. purchased a new position in Constellation Brands during the first quarter valued at $35,000. Finally, First Financial Corp IN purchased a new position in Constellation Brands during the first quarter valued at $35,000. 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.