Constellation Brands (NYSE:STZ) Price Target Cut to $305.00 by Analysts at BMO Capital Markets

by · The Markets Daily

Constellation Brands (NYSE:STZ – Free Report) had its price objective reduced by BMO Capital Markets from $315.00 to $305.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America restated a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Jefferies Financial Group boosted their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, Evercore ISI lowered their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Read Our Latest Report on STZ

Constellation Brands Price Performance

Shares of NYSE STZ opened at $241.52 on Tuesday. The firm has a market cap of $44.19 billion, a P/E ratio of 18.00, a PEG ratio of 1.70 and a beta of 1.75. Constellation Brands has a twelve month low of $227.64 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average of $246.51 and a 200 day moving average of $251.58.

Constellation Brands (NYSE:STZ – Get Free Report) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the company earned $3.70 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th 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 1.67%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insiders Place Their Bets

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,221 shares of company stock worth $33,007,175. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Orion Portfolio Solutions LLC lifted its holdings in Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after buying an additional 39 shares during the period. Capital Advisors Ltd. LLC boosted its position in Constellation Brands by 16.5% during the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares in the last quarter. Brighton Jones LLC grew its stake in Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares during the last quarter. RDA Financial Network raised its holdings in Constellation Brands by 2.3% in the first quarter. RDA Financial Network now owns 1,923 shares of the company’s stock worth $523,000 after purchasing an additional 44 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of Constellation Brands by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

About Constellation Brands

(Get Free Report)

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.

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