Constellation Brands (NYSE:STZ) Price Target Lowered to $289.00 at Royal Bank of Canada

Constellation Brands (NYSE:STZ - Free Report) had its price objective lowered by Royal Bank of Canada from $293.00 to $289.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also weighed in on STZ. BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a "neutral" rating and a $261.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Constellation Brands from $295.00 to $275.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Needham & Company LLC restated a "buy" rating and set a $240.00 target price on shares of Constellation Brands in a research note on Monday, January 27th. Argus lowered shares of Constellation Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Barclays dropped their price target on shares of Constellation Brands from $282.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and a consensus target price of $253.24.

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Constellation Brands Stock Up 4.3 %

Shares of STZ traded up $7.69 during mid-day trading on Friday, hitting $186.64. 3,979,344 shares of the company's stock were exchanged, compared to its average volume of 3,042,899. The company has a market cap of $33.73 billion, a price-to-earnings ratio of 50.17, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock's 50-day moving average is $184.27 and its 200-day moving average is $221.29.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.53 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The firm's quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.16%. Constellation Brands's dividend payout ratio (DPR) is presently 108.60%.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.19% of the company's stock.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently modified their holdings of STZ. Berkshire Hathaway Inc acquired a new stake in shares of Constellation Brands during the fourth quarter worth $1,242,976,000. Norges Bank acquired a new stake in shares of Constellation Brands during the fourth quarter worth $445,883,000. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. D1 Capital Partners L.P. lifted its holdings in shares of Constellation Brands by 186.6% during the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after purchasing an additional 994,639 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after purchasing an additional 876,745 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

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.