Brokerages Set Constellation Brands, Inc. (NYSE:STZ) PT at $290.47

Shares of Constellation Brands, Inc. (NYSE:STZ) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $290.47.

Several brokerages recently issued reports on STZ. JPMorgan Chase & Co. dropped 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. Jefferies Financial Group upped their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Evercore ISI dropped their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th.

Insider Activity at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’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 value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s 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 transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred 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 owns 3,232 shares in the company, valued at $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,221 shares of company stock worth $33,007,175 in the last three months. 12.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Constellation Brands

Institutional investors and hedge funds have recently modified their holdings of the company. SageView Advisory Group LLC increased its holdings in shares of Constellation Brands by 7.8% in the 4th quarter. SageView Advisory Group LLC now owns 949 shares of the company’s stock valued at $236,000 after acquiring an additional 69 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Constellation Brands in the 4th quarter valued at about $958,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $35,000. Mather Group LLC. purchased a new position in Constellation Brands during the 1st quarter worth approximately $178,000. Finally, Banque Cantonale Vaudoise acquired a new position in Constellation Brands during the first quarter worth approximately $734,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $241.62 on Friday. 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 capitalization of $44.21 billion, a PE ratio of 18.00, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands has a fifty-two week low of $227.64 and a fifty-two week high of $274.87. The company has a fifty day moving average of $246.55 and a two-hundred day moving average of $251.01.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.70 EPS. As a group, research analysts forecast that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company 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 dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

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.