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

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $308.00 target price on the stock. Royal Bank of Canada’s target price points to a potential upside of 24.89% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. UBS Group increased their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Morgan Stanley lowered their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Roth Mkm cut their price target on Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research note on Friday, July 5th. Finally, Barclays increased their price target on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $298.26.

Constellation Brands Trading Down 0.1 %

NYSE:STZ opened at $246.61 on Tuesday. The company has a market capitalization of $45.12 billion, a PE ratio of 18.38, a P/E/G ratio of 1.59 and a beta of 1.75. Constellation Brands has a 52-week low of $227.50 and a 52-week high of $274.87. The stock’s 50 day moving average price is $246.66 and its 200 day moving average price is $253.65. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 EPS. On average, research analysts anticipate that Constellation Brands will post 13.54 EPS for the current year.

Insider Activity

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The stock was 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 directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 over the last 90 days. 12.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STZ. International Assets Investment Management LLC raised its position in shares of Constellation Brands by 3.5% in the fourth quarter. International Assets Investment Management LLC now owns 2,345 shares of the company’s stock valued at $567,000 after buying an additional 79 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Constellation Brands by 3.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,888 shares of the company’s stock worth $698,000 after purchasing an additional 108 shares during the period. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Constellation Brands during the fourth quarter worth $353,000. National Bank of Canada FI grew its position in shares of Constellation Brands by 77.4% in the fourth quarter. National Bank of Canada FI now owns 87,702 shares of the company’s stock valued at $21,389,000 after purchasing an additional 38,270 shares during the period. Finally, Summit Trail Advisors LLC increased its stake in Constellation Brands by 5.7% in the fourth quarter. Summit Trail Advisors LLC now owns 2,152 shares of the company’s stock valued at $520,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other 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.