Barclays Boosts Constellation Brands (NYSE:STZ) Price Target to $309.00

Constellation Brands (NYSE:STZ) had its price target increased by Barclays from $295.00 to $309.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a buy rating for the company in a research note on Monday, September 9th. Truist Financial reissued a hold rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an overweight rating on the stock in a research report on Monday, August 26th. BMO Capital Markets reaffirmed an outperform rating and issued a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Royal Bank of Canada reissued an outperform rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of Moderate Buy and a consensus target price of $297.12.

Constellation Brands Trading Up 1.3 %

STZ stock opened at $255.20 on Tuesday. The business has a fifty day moving average price of $245.69 and a 200 day moving average price of $253.93. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock has a market capitalization of $46.70 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 1.74 and a beta of 1.75. Constellation Brands has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $2.91 EPS. Analysts expect that Constellation Brands will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.58%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Activity

In related news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated 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 of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 over the last ninety days. 12.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its stake in shares of Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after acquiring an additional 39 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Constellation Brands by 16.5% during the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after purchasing an additional 41 shares during the period. Copperwynd Financial LLC raised its position in shares of Constellation Brands by 1.6% in the fourth quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after buying an additional 43 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after buying an additional 43 shares during the period. Finally, RDA Financial Network grew its position in Constellation Brands by 2.3% during the first quarter. RDA Financial Network now owns 1,923 shares of the company’s stock worth $523,000 after buying an additional 44 shares in the last quarter. 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.