Brokerages Set Constellation Brands, Inc. (NYSE:STZ) Target Price at $269.19

Shares of Constellation Brands, Inc. (NYSE:STZGet Rating) have been assigned an average rating of “Buy” from the eighteen research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $269.19.

STZ has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on Constellation Brands from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 16th. Morgan Stanley lowered their target price on Constellation Brands from $299.00 to $294.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $278.00 to $276.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Truist Financial lifted their price objective on Constellation Brands from $213.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, April 8th. Finally, Credit Suisse Group lifted their price objective on Constellation Brands from $278.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, April 8th.

In other Constellation Brands news, EVP Thomas Michael Kane sold 1,601 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $249.34, for a total value of $399,193.34. Following the completion of the sale, the executive vice president now owns 4,692 shares in the company, valued at $1,169,903.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 3,787 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $254.00, for a total value of $961,898.00. Following the completion of the sale, the chief executive officer now owns 14,798 shares of the company’s stock, valued at approximately $3,758,692. The disclosure for this sale can be found here. Insiders sold a total of 25,822 shares of company stock valued at $6,451,256 in the last 90 days. 15.77% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in STZ. Curi Wealth Management LLC bought a new stake in Constellation Brands in the fourth quarter valued at approximately $25,000. Core Wealth Advisors Inc. bought a new position in Constellation Brands in the 4th quarter worth $25,000. MCF Advisors LLC bought a new position in Constellation Brands in the 1st quarter worth $25,000. Industrial Alliance Investment Management Inc. bought a new position in Constellation Brands in the 4th quarter worth $26,000. Finally, Wagner Wealth Management LLC bought a new position in Constellation Brands in the 4th quarter worth $26,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Shares of NYSE:STZ opened at $244.37 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.65 and a debt-to-equity ratio of 0.79. The stock’s fifty day simple moving average is $242.19 and its two-hundred day simple moving average is $236.20. Constellation Brands has a 1-year low of $207.35 and a 1-year high of $261.52. The stock has a market cap of $45.99 billion, a PE ratio of -1,357.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07.

Constellation Brands (NYSE:STZGet Rating) last issued its quarterly earnings data on Thursday, April 7th. The company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.22. Constellation Brands had a positive return on equity of 16.43% and a negative net margin of 0.42%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the business earned $1.82 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Constellation Brands will post 11.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Thursday, May 5th were given a $0.80 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, May 4th. This represents a $3.20 dividend on an annualized basis and a yield of 1.31%. Constellation Brands’s payout ratio is presently -516.67%.

Constellation Brands Company Profile (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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