Analysts Set Constellation Brands, Inc. (NYSE:STZ) PT at $290.47

Constellation Brands, Inc. (NYSE:STZ) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $290.47.

Several equities analysts have recently weighed in on STZ shares. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Morgan Stanley cut their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th.

Constellation Brands Trading Up 0.5 %

NYSE:STZ opened at $241.99 on Tuesday. The stock has a market cap of $43.94 billion, a price-to-earnings ratio of 78.19, a PEG ratio of 1.68 and a beta of 0.90. 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’s 50 day moving average price is $244.49 and its 200-day moving average price is $248.30. Constellation Brands has a 52 week low of $224.76 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.67%. Constellation Brands’s payout ratio is 130.74%.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,210 shares of company stock valued at $31,040,994 in the last ninety days. 12.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in Constellation Brands in the second quarter worth about $119,394,000. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Capital International Sarl lifted its position in Constellation Brands by 35.9% during the first quarter. Capital International Sarl now owns 10,462 shares of the company’s stock valued at $2,843,000 after acquiring an additional 2,764 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Constellation Brands by 1.1% in the first quarter. Clearbridge Investments LLC now owns 503,058 shares of the company’s stock valued at $136,711,000 after acquiring an additional 5,302 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Constellation Brands by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 58,814 shares of the company’s stock worth $15,986,000 after purchasing an additional 7,343 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 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.