Constellation Brands' (STZ) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Constellation Brands (NYSE:STZ - Free Report) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $308.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Truist Financial cut their price target on Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating on the stock in a research note on Friday, October 4th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. BMO Capital Markets cut their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 15th. Finally, UBS Group decreased their price target on shares of Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a research note on Monday, September 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $290.47.

Constellation Brands Trading Up 1.0 %

Shares of STZ stock traded up $2.38 on Tuesday, reaching $240.44. 1,033,355 shares of the stock were exchanged, compared to its average volume of 1,201,424. The stock has a 50 day moving average price of $243.70 and a 200 day moving average price of $247.79. The stock has a market cap of $43.65 billion, a PE ratio of 77.81, a P/E/G ratio of 1.68 and a beta of 0.90. Constellation Brands has a one year low of $224.76 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.70 EPS. Equities research analysts forecast that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's dividend payout ratio is presently 130.74%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Sands sold 119,274 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New Millennium Group LLC acquired a new stake in Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands during the second quarter worth $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.