Constellation Brands (NYSE:STZ) Receives “Outperform” Rating from Royal Bank of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $308.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 40.53% from the company’s previous close.

Several other research firms have also weighed in on STZ. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Truist Financial cut their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Barclays decreased their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Finally, Bank of America restated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $284.75.

Constellation Brands Trading Up 0.3 %

Shares of STZ opened at $219.17 on Tuesday. Constellation Brands has a twelve month low of $217.47 and a twelve month high of $274.87. The firm has a market capitalization of $39.79 billion, a P/E ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock’s fifty day simple moving average is $233.17 and its 200 day simple moving average is $242.30.

Insider Activity at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 over the last three months. 12.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. lifted its stake in Constellation Brands by 9.0% in the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock valued at $1,929,000 after buying an additional 718 shares during the last quarter. Doliver Advisors LP bought a new stake in Constellation Brands in the 4th quarter valued at about $348,000. Nordea Investment Management AB boosted its stake in Constellation Brands by 10.7% during the 4th quarter. Nordea Investment Management AB now owns 164,505 shares of the company’s stock valued at $36,446,000 after purchasing an additional 15,942 shares during the period. Versant Capital Management Inc grew its position in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the last quarter. Finally, Copley Financial Group Inc. acquired a new stake in shares of Constellation Brands in the third quarter valued at approximately $455,000. Institutional investors and hedge funds 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.