Constellation Brands’ (STZ) Outperform Rating Reiterated 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. Royal Bank of Canada currently has a $308.00 price objective on the stock.

A number of other analysts have also commented on STZ. Barclays lowered their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Morgan Stanley lowered their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $239.66 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a market cap of $43.51 billion, a P/E ratio of 77.56, a P/E/G ratio of 1.70 and a beta of 0.90. The firm has a 50 day simple moving average of $243.04 and a 200 day simple moving average of $247.56. Constellation Brands has a fifty-two week low of $224.76 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 earnings per share. Sell-side analysts predict that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hohimer Wealth Management LLC increased its stake in shares of Constellation Brands by 3.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 4,239 shares of the company’s stock worth $1,092,000 after purchasing an additional 126 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of Constellation Brands during the 3rd quarter worth about $928,000. TD Private Client Wealth LLC increased its stake in shares of Constellation Brands by 29.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,385 shares of the company’s stock worth $1,645,000 after purchasing an additional 1,439 shares during the last quarter. Neo Ivy Capital Management increased its stake in shares of Constellation Brands by 19.1% during the 3rd quarter. Neo Ivy Capital Management now owns 3,722 shares of the company’s stock worth $960,000 after purchasing an additional 598 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Constellation Brands by 19.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 19,846 shares of the company’s stock worth $5,111,000 after purchasing an additional 3,240 shares during 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.