UBS Group Lowers Constellation Brands (NYSE:STZ) Price Target to $295.00

Constellation Brands (NYSE:STZ) had its price objective cut by UBS Group from $320.00 to $295.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on STZ. Truist Financial reissued a hold rating and set a $265.00 target price on shares of Constellation Brands in a research note on Wednesday, July 3rd. Morgan Stanley reduced their target price 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 upped their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an overweight rating in a research note on Friday, July 19th. BMO Capital Markets reiterated an outperform rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Finally, Roth Mkm decreased their price objective on shares of Constellation Brands from $303.00 to $298.00 and set a buy rating on the stock in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of Moderate Buy and an average target price of $296.78.

Constellation Brands Stock Performance

NYSE:STZ opened at $248.79 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a market cap of $45.52 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. The firm’s fifty day moving average price is $246.02 and its 200 day moving average price is $253.79. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating 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 net margin of 22.70% and a return on equity of 23.72%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.91 earnings per share. On average, sell-side analysts expect that Constellation Brands will post 13.7 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.62%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now owns 3,232 shares in the company, valued at $815,853.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock valued at $3,982,922 over the last quarter. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new stake in shares of Constellation Brands in the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the 2nd quarter worth $32,000. YHB Investment Advisors Inc. purchased a new position in shares of Constellation Brands in the 1st quarter worth $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Constellation Brands in the fourth quarter valued at $35,000. Hedge funds and other institutional investors 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 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.