Constellation Brands (NYSE:STZ) Price Target Raised to $174.00

Constellation Brands (NYSE:STZ) had its price objective raised by Citigroup from $170.00 to $174.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on STZ. Wall Street Zen upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. DA Davidson cut their target price on Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Jefferies Financial Group cut their target price on Constellation Brands from $201.00 to $196.00 in a report on Friday, April 11th. Barclays set a $202.00 target price on Constellation Brands and gave the stock an “overweight” rating in a report on Thursday, June 26th. Finally, Truist Financial raised Constellation Brands from a “hold” rating to a “buy” rating and increased their price target for the company from $190.00 to $215.00 in a research report on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.35.

Constellation Brands Price Performance

Constellation Brands stock opened at $172.61 on Thursday. The stock has a market capitalization of $30.73 billion, a price-to-earnings ratio of -72.22, a PEG ratio of 9.57 and a beta of 0.67. Constellation Brands has a 52-week low of $159.35 and a 52-week high of $264.45. The stock’s 50 day moving average price is $177.11 and its two-hundred day moving average price is $183.33. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. Constellation Brands’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.57 earnings per share. On average, equities analysts predict that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.36%. Constellation Brands’s payout ratio is -170.71%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the 4th quarter worth $26,000. Minot DeBlois Advisors LLC bought a new position in Constellation Brands in the 4th quarter worth about $29,000. Optiver Holding B.V. bought a new position in Constellation Brands in the 4th quarter worth about $31,000. Laurel Wealth Advisors LLC bought a new position in Constellation Brands in the 1st quarter worth about $32,000. Finally, Rakuten Securities Inc. boosted its stake in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock worth $33,000 after purchasing an additional 161 shares during the period. 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.