Constellation Brands (NYSE:STZ) Given New $270.00 Price Target at UBS Group

Constellation Brands (NYSE:STZ – Get Rating) had its price target reduced by UBS Group from $285.00 to $270.00 in a report published on Tuesday, The Fly reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also weighed in on STZ. Truist Financial lifted their target price on shares of Constellation Brands from $213.00 to $245.00 and gave the company a hold rating in a report on Friday, April 8th. Morgan Stanley lifted their target price on shares of Constellation Brands from $294.00 to $298.00 and gave the company an overweight rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Constellation Brands from $250.00 to $248.00 in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of Constellation Brands from $275.00 to $280.00 and gave the company an overweight rating in a report on Wednesday, June 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $278.00 to $276.00 and set an overweight rating on the stock in a report on Monday, April 4th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $269.27.

Shares of STZ opened at $239.35 on Tuesday. The firm has a market cap of $45.05 billion, a PE ratio of -1,329.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company’s fifty day moving average is $243.82 and its two-hundred day moving average is $237.51. Constellation Brands has a fifty-two week low of $207.35 and a fifty-two week high of $261.52. The company has a quick ratio of 0.65, a current ratio of 1.23 and a debt-to-equity ratio of 0.79.

Constellation Brands (NYSE:STZ – Get Rating) last announced its quarterly earnings results on Thursday, April 7th. The company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.22. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.02 billion. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $1.82 EPS. As a group, equities research analysts anticipate that Constellation Brands will post 11.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th were given a $0.80 dividend. The ex-dividend date was Wednesday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 1.34%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.14. Constellation Brands’s payout ratio is presently -516.67%.

In other news, EVP Thomas Michael Kane sold 1,601 shares of Constellation Brands stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $249.34, for a total value of $399,193.34. Following the completion of the transaction, the executive vice president now directly owns 4,692 shares of the company’s stock, valued at approximately $1,169,903.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 3,787 shares of Constellation Brands stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $254.00, for a total transaction of $961,898.00. Following the completion of the transaction, the chief executive officer now directly owns 14,798 shares of the company’s stock, valued at $3,758,692. The disclosure for this sale can be found here. Insiders sold a total of 25,822 shares of company stock valued at $6,451,256 in the last three months. Insiders own 16.19% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of STZ. MML Investors Services LLC boosted its holdings in shares of Constellation Brands by 7.9% in the 3rd quarter. MML Investors Services LLC now owns 13,045 shares of the company’s stock valued at $2,748,000 after buying an additional 959 shares during the period. Toroso Investments LLC boosted its holdings in shares of Constellation Brands by 44.4% in the 3rd quarter. Toroso Investments LLC now owns 3,006 shares of the company’s stock valued at $633,000 after buying an additional 924 shares during the period. Thrivent Financial for Lutherans boosted its stake in Constellation Brands by 13.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 24,699 shares of the company’s stock valued at $5,204,000 after purchasing an additional 2,853 shares during the period. Janus Henderson Group PLC boosted its stake in Constellation Brands by 9.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,195,652 shares of the company’s stock valued at $462,603,000 after purchasing an additional 188,410 shares during the period. Finally, Atria Investments LLC boosted its stake in Constellation Brands by 4.3% during the 3rd quarter. Atria Investments LLC now owns 5,254 shares of the company’s stock valued at $1,107,000 after purchasing an additional 219 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.

About Constellation Brands (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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