Constellation Brands (NYSE:STZ) Receives Outperform Rating from Royal Bank of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $308.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 37.19% from the company’s previous close.

Other research analysts also recently issued reports about the stock. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Evercore ISI reduced their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a research report on Friday, December 20th. Wells Fargo & Company cut their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $287.70.

Constellation Brands Stock Performance

NYSE STZ traded up $1.58 during trading hours on Tuesday, reaching $224.51. The stock had a trading volume of 275,923 shares, compared to its average volume of 1,277,615. Constellation Brands has a 52-week low of $217.52 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a market cap of $40.76 billion, a P/E ratio of 72.66, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock has a fifty day moving average of $233.85 and a 200 day moving average of $242.78.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 in the last quarter. 12.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently modified their holdings of STZ. Versant Capital Management Inc boosted its holdings in Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter worth about $36,000. Wellington Shields & Co. LLC increased its position in Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares in the last quarter. Eastern Bank purchased a new position in Constellation Brands in the third quarter valued at approximately $39,000. Finally, FSA Wealth Management LLC acquired a new position in Constellation Brands during the third quarter valued at approximately $42,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.