Evercore ISI Raises Constellation Brands (NYSE:STZ) Price Target to $310.00

Constellation Brands (NYSE:STZ) had its target price boosted by Evercore ISI from $300.00 to $310.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

STZ has been the topic of a number of other research reports. UBS Group increased their price objective on Constellation Brands from $312.00 to $320.00 and gave the stock a buy rating in a research report on Friday. Roth Mkm reiterated a buy rating and issued a $305.00 price objective on shares of Constellation Brands in a research report on Friday. BMO Capital Markets increased their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an outperform rating in a research report on Friday. HSBC increased their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a buy rating in a research report on Friday. Finally, Barclays reduced their target price on Constellation Brands from $296.00 to $294.00 and set an overweight rating on the stock in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $298.55.

Constellation Brands Trading Down 1.4 %

NYSE:STZ opened at $258.52 on Friday. The company has a market cap of $47.26 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.78 and a beta of 0.97. The stock’s fifty day moving average price is $257.07 and its two-hundred day moving average price is $247.01. Constellation Brands has a 1 year low of $221.81 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business posted $1.98 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Constellation Brands will post 13.43 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.56%. Constellation Brands’s dividend payout ratio (DPR) is presently 37.95%.

Institutional Trading of Constellation Brands

Several large investors have recently modified their holdings of STZ. Moneta Group Investment Advisors LLC grew its stake in shares of 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 worth $867,309,000 after purchasing an additional 3,738,028 shares during the last quarter. Norges Bank bought a new stake in shares of Constellation Brands in the fourth quarter worth about $443,844,000. Barclays PLC grew its stake in shares of Constellation Brands by 102.0% in the second 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 during the last quarter. Morgan Stanley grew its stake in shares of Constellation Brands by 31.3% in the fourth quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after purchasing an additional 908,486 shares during the last quarter. Finally, Darsana Capital Partners LP grew its stake in shares of Constellation Brands by 288.9% in the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares during the last quarter. 77.34% of the stock is owned by 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.