Constellation Brands (NYSE:STZ) Earns “Outperform” Rating from Royal Bank of Canada

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

A number of other research analysts have also recently weighed in on STZ. JPMorgan Chase & Co. lifted their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the company an overweight rating in a research report on Friday, July 5th. BMO Capital Markets restated an outperform rating and set a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an overweight rating for the company in a report on Monday, August 26th. Barclays boosted their price objective on Constellation Brands from $287.00 to $295.00 and gave the stock an overweight rating in a research note on Friday, July 19th. Finally, Roth Mkm lowered their target price on Constellation Brands from $305.00 to $303.00 and set a buy rating for the company in a research note on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $298.26.

Constellation Brands Stock Up 0.7 %

Shares of NYSE STZ opened at $248.29 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $45.43 billion, a PE ratio of 18.50, a P/E/G ratio of 1.59 and a beta of 1.75. The firm has a fifty day moving average of $246.51 and a 200-day moving average of $253.62. Constellation Brands has a 52-week low of $227.50 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly 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 company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.91 earnings per share. On average, analysts anticipate that Constellation Brands will post 13.54 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.63%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STZ. Vanguard Group Inc. raised its stake in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares during the period. Capital International Investors raised its position in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors raised its position in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the period. Capital Research Global Investors lifted its holdings in shares of Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after purchasing an additional 222,380 shares during the last quarter. Finally, Norges Bank acquired a new position in Constellation Brands during the 4th quarter valued at approximately $443,844,000. 77.34% of the stock is currently owned by institutional investors.

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.