Royal Bank of Canada Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target cut by Royal Bank of Canada from $289.00 to $233.00 in a report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently commented on the company. Roth Mkm reduced their target price on Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Roth Capital reduced their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Barclays boosted their price target on Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has an average rating of “Hold” and an average target price of $228.50.

Constellation Brands Stock Up 1.0 %

Shares of NYSE:STZ opened at $187.41 on Monday. Constellation Brands has a fifty-two week low of $160.46 and a fifty-two week high of $265.70. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm’s 50-day simple moving average is $177.15 and its 200-day simple moving average is $208.21. The company has a market cap of $33.87 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be given a $1.02 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is currently -792.16%.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 12.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently modified their holdings of STZ. Mainstream Capital Management LLC purchased a new position in Constellation Brands during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Constellation Brands in the 4th quarter worth $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands in the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands in the fourth quarter valued at $28,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands during the fourth quarter worth about $29,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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 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.