Constellation Brands (NYSE:STZ) Stock Rating Reaffirmed as Outperform by Royal Bank Of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a research report issued on Friday, Marketbeat.com reports. They currently have a $185.00 price objective on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 63.71% from the company’s previous close.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Constellation Brands from $150.00 to $136.00 and set a “hold” rating on the stock in a report on Friday, September 11th. Piper Sandler restated a “neutral” rating and issued a $160.00 price objective on shares of Constellation Brands in a report on Wednesday, July 1st. Evercore set a $160.00 price objective on shares of Constellation Brands in a report on Monday, September 21st. Jefferies Financial Group cut their price target on shares of Constellation Brands from $147.00 to $135.00 and set a “hold” rating on the stock in a research note on Monday, September 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a research note on Friday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $158.90.

Constellation Brands Trading Up 0.0%

Shares of NYSE STZ traded up $0.01 during trading on Friday, hitting $113.00. 1,520,036 shares of the company were exchanged, compared to its average volume of 2,218,838. Constellation Brands has a 12-month low of $111.54 and a 12-month high of $168.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.48 and a current ratio of 0.91. The company has a fifty day moving average price of $127.30 and a 200-day moving average price of $139.44. The firm has a market capitalization of $19.30 billion, a PE ratio of 10.78, a P/E/G ratio of 2.24 and a beta of 0.44.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.27). Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the firm earned $3.22 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that Constellation Brands will post 11.81 EPS for the current year.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ally Financial Inc. acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $1,600,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Constellation Brands during the second quarter worth approximately $31,582,000. Concurrent Investment Advisors LLC raised its stake in shares of Constellation Brands by 1,613.6% during the second quarter. Concurrent Investment Advisors LLC now owns 27,915 shares of the company’s stock worth $3,883,000 after purchasing an additional 26,286 shares during the last quarter. CORDA Investment Management LLC. raised its stake in shares of Constellation Brands by 12.6% during the first quarter. CORDA Investment Management LLC. now owns 140,050 shares of the company’s stock worth $21,008,000 after purchasing an additional 15,694 shares during the last quarter. Finally, Amundi raised its stake in shares of Constellation Brands by 15.1% during the first quarter. Amundi now owns 412,470 shares of the company’s stock worth $61,870,000 after purchasing an additional 54,158 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation’s products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.