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

Royal Bank of Canada reissued their outperform rating on shares of Constellation Brands (NYSE:STZ) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $308.00 price objective on the stock.

A number of other research firms also recently weighed in on STZ. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Evercore ISI reduced their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Constellation Brands in a research note on Friday, December 20th. Finally, UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $286.15.

Constellation Brands Trading Down 2.0 %

STZ opened at $218.44 on Tuesday. The business has a 50 day simple moving average of $233.49 and a two-hundred day simple moving average of $242.46. The firm has a market capitalization of $39.66 billion, a price-to-earnings ratio of 70.69, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands has a one year low of $217.52 and a one year high of $274.87.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’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 value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last ninety days. 12.19% of the stock is currently owned by company insiders.

Institutional Trading of Constellation Brands

A number of hedge funds have recently bought and sold shares of the stock. Candriam S.C.A. increased its position in shares of Constellation Brands by 2.5% during the second quarter. Candriam S.C.A. now owns 9,779 shares of the company’s stock worth $2,516,000 after purchasing an additional 236 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Constellation Brands by 2,614.3% during the second quarter. Strategic Financial Concepts LLC now owns 31,649 shares of the company’s stock worth $81,000 after purchasing an additional 30,483 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Constellation Brands by 494.8% during the second quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock worth $973,000 after purchasing an additional 3,152 shares in the last quarter. Caprock Group LLC increased its position in shares of Constellation Brands by 15.5% during the second quarter. Caprock Group LLC now owns 3,642 shares of the company’s stock worth $937,000 after purchasing an additional 489 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Constellation Brands by 14.4% during the second quarter. Ballentine Partners LLC now owns 2,960 shares of the company’s stock worth $762,000 after purchasing an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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.