Constellation Brands (NYSE:STZ) Earns “Outperform” Rating from Royal Bank of Canada

07 Oct 2024, 06:58 by Sarita Garza · The Markets Daily

Royal Bank of Canada reiterated their outperform rating on shares of Constellation Brands (NYSE:STZ – Free Report) in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $308.00 price target on the stock.

A number of other analysts have also commented on STZ. Roth Mkm lowered their price objective on Constellation Brands from $303.00 to $298.00 and set a buy rating for the company in a research report on Wednesday, September 4th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an outperform rating for the company in a report on Friday. Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a buy rating in a research report on Friday, July 5th. BMO Capital Markets reissued an outperform rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Barclays increased their price objective on shares of Constellation Brands from $295.00 to $309.00 and gave the company an overweight rating in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $295.75.

Get Our Latest Stock Analysis on Constellation Brands

Constellation Brands Trading Up 1.2 %

Shares of STZ opened at $246.67 on Friday. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.74 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The stock’s 50-day moving average price is $246.53 and its 200 day moving average price is $253.29. Constellation Brands has a 12-month low of $227.50 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ – Get Free Report) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.70 earnings per share. As a group, research analysts predict that Constellation Brands will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Transactions at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. New Millennium Group LLC acquired a new position in shares of Constellation Brands during the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $32,000. YHB Investment Advisors Inc. purchased a new position in shares of Constellation Brands during the 1st quarter valued at $35,000. Finally, First Financial Corp IN bought a new stake in Constellation Brands during the first quarter valued at approximately $35,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

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