Royal Bank of Canada Cuts Constellation Brands (NYSE:STZ) Price Target to $233.00

Constellation Brands (NYSE:STZ - Free Report) had its price target decreased by Royal Bank of Canada from $289.00 to $233.00 in a research report sent to investors on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets cut their target price on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Barclays raised their price objective on shares of Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Roth Capital decreased their price objective on Constellation Brands from $298.00 to $284.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Finally, TD Cowen decreased their price objective on Constellation Brands from $270.00 to $260.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Hold" and a consensus price target of $224.42.

Constellation Brands Stock Performance

NYSE:STZ traded up $3.55 during mid-day trading on Monday, hitting $186.58. The company's stock had a trading volume of 1,295,276 shares, compared to its average volume of 1,693,049. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock has a market cap of $33.72 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 1.52 and a beta of 1.75. The business's fifty day moving average is $178.12 and its two-hundred day moving average is $207.38. Constellation Brands has a 1 year low of $160.46 and a 1 year high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 earnings per share. Analysts anticipate that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, April 29th. Constellation Brands's payout ratio is currently -800.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clarius Group LLC bought a new stake in Constellation Brands during the 1st quarter worth about $239,000. Rakuten Securities Inc. lifted its position in Constellation Brands by 805.0% during the first 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. Insigneo Advisory Services LLC bought a new stake in shares of Constellation Brands during the 1st quarter worth $203,000. Inscription Capital LLC acquired a new stake in Constellation Brands in the first quarter valued at approximately $335,000. Finally, Grove Bank & Trust boosted its position in Constellation Brands by 28.7% during the 1st quarter. Grove Bank & Trust now owns 3,369 shares of the company's stock worth $618,000 after buying an additional 752 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.