Constellation Brands (NYSE:STZ) Given New $215.00 Price Target at BMO Capital Markets

Constellation Brands (NYSE:STZ) had its target price cut by BMO Capital Markets from $260.00 to $215.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on STZ. Barclays cut their price objective on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Roth Capital dropped their price target on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Citigroup lowered shares of Constellation Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $200.00 in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $231.10.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $185.63 on Friday. The firm’s 50 day moving average is $176.86 and its two-hundred day moving average is $208.70. The firm has a market capitalization of $33.55 billion, a P/E ratio of 49.90, a PEG ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands has a 52 week low of $160.46 and a 52 week high of $265.70.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. Analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands’s payout ratio is -792.16%.

Insider Activity

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. Capital World Investors increased its stake in shares of Constellation Brands by 3.4% in the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock worth $2,155,946,000 after acquiring an additional 324,690 shares during the last quarter. Berkshire Hathaway Inc purchased a new stake in shares of Constellation Brands during the fourth quarter worth $1,242,976,000. Geode Capital Management LLC boosted its position in Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock valued at $705,844,000 after purchasing an additional 63,323 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in Constellation Brands by 0.6% in the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock valued at $641,336,000 after purchasing an additional 18,557 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.