Truist Financial Cuts Constellation Brands (NYSE:STZ) Price Target to $255.00

Constellation Brands (NYSE:STZ) had its price objective decreased by Truist Financial from $265.00 to $255.00 in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

STZ has been the subject of a number of other reports. Barclays increased their target price on Constellation Brands from $295.00 to $309.00 and gave the stock an overweight rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut 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. Royal Bank of Canada reaffirmed an outperform rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday. Jefferies Financial Group boosted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a buy rating in a research report on Friday, July 5th. Finally, UBS Group dropped their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a buy rating for the company in a report on Monday, September 9th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $295.75.

Constellation Brands Stock Up 1.2 %

STZ stock opened at $246.67 on Friday. The business’s 50-day simple moving average is $246.53 and its 200 day simple moving average is $253.29. 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 company has a market cap of $45.13 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. Constellation Brands has a twelve month low of $227.50 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the company posted $3.70 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is 30.10%.

Insider Activity

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

Institutional Investors Weigh In On Constellation Brands

Several large investors have recently bought and sold shares of STZ. New Millennium Group LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. bought a new position in shares of Constellation Brands during the 1st quarter valued at about $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands in the 4th quarter valued at approximately $35,000. 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.