Constellation Brands (NYSE:STZ) Given Outperform Rating at Evercore ISI

Evercore ISI restated their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $300.00 price target on the stock.

A number of other research firms have also recently issued reports on STZ. Royal Bank of Canada restated an outperform rating and set a $295.00 target price on shares of Constellation Brands in a research note on Thursday, March 7th. Argus lowered shares of Constellation Brands from a buy rating to a hold rating in a research report on Wednesday, January 10th. TheStreet downgraded Constellation Brands from a b rating to a c+ rating in a research report on Friday, January 5th. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $309.00 to $301.00 and set an overweight rating for the company in a research note on Thursday, December 21st. Finally, Bank of America lifted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a buy rating in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $290.37.

Constellation Brands Stock Performance

NYSE STZ opened at $272.07 on Wednesday. The firm has a market capitalization of $49.74 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The firm’s fifty day moving average price is $252.62 and its two-hundred day moving average price is $246.18. Constellation Brands has a 1 year low of $217.05 and a 1 year high of $273.65. The company has a current ratio of 1.05, a quick ratio of 0.46 and a debt-to-equity ratio of 1.05.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the business earned $2.83 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Constellation Brands will post 11.92 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a $0.89 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a yield of 1.31%. Constellation Brands’s dividend payout ratio (DPR) is presently 42.13%.

Insider Transactions at Constellation Brands

In related news, major shareholder Family Foundation Sands sold 354,616 shares of Constellation Brands stock in a transaction on Monday, January 8th. The shares were sold at an average price of $250.26, for a total value of $88,746,200.16. Following the completion of the sale, the insider now owns 54,461 shares of the company’s stock, valued at approximately $13,629,409.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after purchasing an additional 313,344 shares during the last quarter. State Street Corp raised its position in Constellation Brands by 0.8% in the 2nd quarter. State Street Corp now owns 6,936,028 shares of the company’s stock valued at $1,707,165,000 after buying an additional 51,968 shares during the last quarter. Morgan Stanley lifted its position in shares of Constellation Brands by 1.5% during the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after purchasing an additional 58,518 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Constellation Brands by 84,839.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after purchasing an additional 3,738,028 shares during the last quarter. Finally, Barclays PLC grew its position in Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock worth $723,027,000 after purchasing an additional 1,483,668 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.