Constellation Brands (NYSE:STZ) Stock Rating Upgraded by Argus

Argus upgraded shares of Constellation Brands (NYSE:STZ) from a hold rating to a buy rating in a research note published on Monday, Marketbeat.com reports. The brokerage currently has $306.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Bank of America increased their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a buy rating in a research note on Monday, March 18th. Piper Sandler began coverage on Constellation Brands in a report on Friday, March 22nd. They issued an overweight rating and a $300.00 price target on the stock. Barclays lowered their price target on Constellation Brands from $296.00 to $294.00 and set an overweight rating on the stock in a report on Friday, April 5th. HSBC upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a buy rating in a report on Friday, April 12th. Finally, BMO Capital Markets upped their price target on Constellation Brands from $290.00 to $315.00 and gave the stock an outperform rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $298.55.

Constellation Brands Stock Performance

Shares of STZ stock opened at $258.68 on Monday. The company has a market cap of $47.29 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The stock has a 50 day simple moving average of $257.82 and a 200-day simple moving average of $247.21. Constellation Brands has a 12-month low of $221.81 and a 12-month high of $274.87. 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 issued its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. On average, equities analysts forecast that Constellation Brands will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 37.95%.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 16.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in STZ. Prudential PLC purchased a new position in shares of Constellation Brands in the 1st quarter worth $705,000. Cetera Investment Advisers raised its position in shares of Constellation Brands by 1.0% in the 1st quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock worth $3,921,000 after buying an additional 163 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Constellation Brands by 17.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock worth $725,000 after buying an additional 471 shares during the period. Vanguard Group Inc. raised its position in shares of Constellation Brands by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after buying an additional 313,344 shares during the period. Finally, Ergoteles LLC purchased a new position in shares of Constellation Brands in the 1st quarter worth $257,000. 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.