Constellation Brands (NYSE:STZ) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $308.00 target price on the stock.

A number of other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a hold rating in a report on Wednesday, April 10th. UBS Group lifted their price target on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a buy rating in a report on Friday, July 5th. HSBC lifted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a buy rating in a report on Friday, April 12th. Argus upgraded shares of Constellation Brands from a hold rating to a buy rating and set a $306.00 price target on the stock in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the company an overweight rating in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $300.28.

Constellation Brands Stock Performance

NYSE STZ opened at $246.94 on Wednesday. The firm’s fifty day moving average price is $252.51 and its two-hundred day moving average price is $254.69. The stock has a market cap of $45.00 billion, a PE ratio of 18.40, a PEG ratio of 1.62 and a beta of 0.87. Constellation Brands has a fifty-two week low of $227.50 and a fifty-two week 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.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.91 earnings per share. On average, equities analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, August 14th. Constellation Brands’s payout ratio is presently 30.10%.

Insider Transactions at Constellation Brands

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. Insiders sold a total of 27,831 shares of company stock valued at $7,261,502 over the last three months. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

A number of institutional investors have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in Constellation Brands by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after purchasing an additional 39 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after purchasing an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. grew its position in Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after purchasing an additional 42 shares in the last quarter. FAS Wealth Partners Inc. grew its position in Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after purchasing an additional 43 shares in the last quarter. Finally, Smithfield Trust Co grew its position in Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after purchasing an additional 43 shares in the last quarter. 77.34% of the stock is owned by 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.