Constellation Brands (NYSE:STZ) Given New $309.00 Price Target at Barclays

Constellation Brands (NYSE:STZ) had its target price increased by Barclays from $295.00 to $309.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the company. BMO Capital Markets reissued an outperform rating and set a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Jefferies Financial Group upped their price objective 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. Royal Bank of Canada restated an outperform rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, September 17th. Roth Mkm lowered their price target on shares of Constellation Brands from $303.00 to $298.00 and set a buy rating for the company in a report on Wednesday, September 4th. Finally, Truist Financial reissued a hold rating and set a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has an average rating of Moderate Buy and an average price target of $297.12.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $255.20 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market cap of $46.70 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The company has a 50 day moving average of $245.69 and a 200-day moving average of $253.93. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the company earned $2.91 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company 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. This represents a $4.04 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC grew its holdings in Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after purchasing an additional 39 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Constellation Brands by 16.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after purchasing an additional 41 shares in the last quarter. Copperwynd Financial LLC grew its stake in shares of Constellation Brands by 1.6% in the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after buying an additional 43 shares during the period. Brighton Jones LLC grew its stake in shares of Constellation Brands by 4.7% in the 2nd 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 increased its position in Constellation Brands by 2.3% in the 1st quarter. RDA Financial Network now owns 1,923 shares of the company’s stock valued at $523,000 after buying an additional 44 shares in the last quarter. 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.