Constellation Brands (NYSE:STZ) Earns Outperform Rating from Evercore ISI

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

Several other equities research analysts have also recently weighed in on STZ. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $309.00 to $301.00 and set an overweight rating for the company in a research report on Thursday, December 21st. Piper Sandler began coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an overweight rating and a $300.00 target price for the company. Royal Bank of Canada restated an outperform rating and issued a $295.00 target price on shares of Constellation Brands in a research note on Thursday, March 7th. Argus lowered Constellation Brands from a buy rating to a hold rating in a research note on Wednesday, January 10th. Finally, Bank of America upped their target price on Constellation Brands from $290.00 to $300.00 and gave the company a buy rating in a research note on Monday, March 18th. Four investment 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 stock currently has a consensus rating of Moderate Buy and an average price target of $290.37.

Constellation Brands Stock Down 0.1 %

STZ opened at $271.76 on Wednesday. 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. The stock has a market capitalization of $49.68 billion, a price-to-earnings ratio of 32.16, a P/E/G ratio of 1.89 and a beta of 1.75. The business has a 50 day moving average of $253.37 and a 200-day moving average of $246.53.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the business earned $2.83 earnings per share. Constellation Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands will post 11.92 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, February 7th. Constellation Brands’s payout ratio is presently 42.13%.

Insider Transactions at Constellation Brands

In other news, major shareholder Family Foundation Sands sold 354,616 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $250.26, for a total transaction of $88,746,200.16. Following the sale, the insider now owns 54,461 shares in the company, valued at $13,629,409.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.19% of the company’s stock.

Institutional Trading of Constellation Brands

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after acquiring an additional 313,344 shares during the last quarter. State Street Corp boosted its holdings in Constellation Brands by 0.8% in the second quarter. State Street Corp now owns 6,936,028 shares of the company’s stock valued at $1,707,165,000 after acquiring an additional 51,968 shares during the last quarter. Morgan Stanley boosted its holdings in Constellation Brands by 1.5% in the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after acquiring an additional 58,518 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Constellation Brands by 84,839.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock valued at $867,309,000 after acquiring an additional 3,738,028 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Constellation Brands by 102.0% in the second quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock valued at $723,027,000 after acquiring an additional 1,483,668 shares during the last quarter. 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.