Truist Financial Reaffirms Hold Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “hold” rating restated by equities research analysts at Truist Financial in a research note issued on Wednesday, Benzinga reports. They currently have a $265.00 target price on the stock. Truist Financial’s price objective indicates a potential upside of 5.84% from the company’s previous close.

Several other research firms have also recently weighed in on STZ. Bank of America increased 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. UBS Group decreased their price target on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. HSBC boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $298.63.

Constellation Brands Stock Performance

STZ stock traded down $8.57 during trading on Wednesday, reaching $250.37. 2,665,931 shares of the stock were exchanged, compared to its average volume of 1,204,986. Constellation Brands has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a market capitalization of $45.81 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. The stock has a 50 day simple moving average of $255.22 and a 200-day simple moving average of $254.02. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.91 EPS. As a group, sell-side analysts anticipate that Constellation Brands will post 13.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 over the last three months. 12.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Perigon Wealth Management LLC grew its stake in shares of Constellation Brands by 46.0% during the 4th quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after purchasing an additional 1,893 shares during the period. Stifel Financial Corp grew its stake in shares of Constellation Brands by 3.2% during the 4th quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after purchasing an additional 5,951 shares during the period. CoreCap Advisors LLC grew its stake in shares of Constellation Brands by 35.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after purchasing an additional 528 shares during the period. Ascent Wealth Partners LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $962,000. Finally, KBC Group NV grew its stake in shares of Constellation Brands by 100.4% during the 4th quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after purchasing an additional 125,730 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.