Brokerages Set Constellation Brands, Inc. (NYSE:STZ) Price Target at $299.21

Shares of Constellation Brands, Inc. (NYSE:STZ) have earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $298.26.

Several analysts have recently weighed in on STZ shares. Truist Financial reissued a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday. Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research note on Tuesday.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $246.61 on Thursday. The firm has a market capitalization of $45.12 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.59 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. The firm’s 50 day moving average is $246.66 and its two-hundred day moving average is $253.65.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the business earned $2.91 EPS. Constellation Brands’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts forecast that Constellation Brands will post 13.54 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.64%. Constellation Brands’s payout ratio is currently 30.10%.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on 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 directly owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’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 value of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock valued at $3,982,922 in the last ninety days. 12.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors increased its stake in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors increased its stake in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Capital Research Global Investors raised its position in shares of Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after purchasing an additional 222,380 shares during the last quarter. Finally, Norges Bank purchased a new stake in Constellation Brands in the 4th quarter valued at approximately $443,844,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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.