Constellation Brands, Inc. (NYSE:STZ) Given Average Recommendation of “Buy” by Brokerages

Shares of Constellation Brands, Inc. (NYSE:STZGet Rating) have been given a consensus recommendation of “Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $270.13.

Several equities analysts recently issued reports on STZ shares. Morgan Stanley decreased their price target on Constellation Brands from $299.00 to $294.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. Truist Financial increased their price objective on shares of Constellation Brands from $213.00 to $245.00 and gave the company a “hold” rating in a report on Friday, April 8th. Credit Suisse Group lifted their target price on shares of Constellation Brands from $278.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, April 8th. Wells Fargo & Company raised their target price on Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. Finally, TheStreet upgraded shares of Constellation Brands from a “c+” rating to a “b-” rating in a research report on Thursday, April 28th.

NYSE:STZ opened at $227.70 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.23 and a debt-to-equity ratio of 0.79. The firm has a market cap of $42.86 billion, a PE ratio of -1,265.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06. Constellation Brands has a 12 month low of $207.35 and a 12 month high of $261.52. The company’s 50-day moving average price is $244.56 and its two-hundred day moving average price is $237.47.

Constellation Brands (NYSE:STZGet Rating) last released its quarterly earnings results on Thursday, April 7th. The company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.02 billion. During the same period in the prior year, the company earned $1.82 EPS. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts expect that Constellation Brands will post 11.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, May 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.14. Constellation Brands’s dividend payout ratio is currently -516.67%.

In other Constellation Brands news, EVP Thomas Michael Kane sold 1,601 shares of the company’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $249.34, for a total value of $399,193.34. Following the transaction, the executive vice president now directly owns 4,692 shares in the company, valued at $1,169,903.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James O. Bourdeau sold 12,860 shares of the firm’s stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $254.24, for a total transaction of $3,269,526.40. Following the sale, the executive vice president now owns 1,628 shares of the company’s stock, valued at approximately $413,902.72. The disclosure for this sale can be found here. Insiders sold 25,822 shares of company stock valued at $6,451,256 over the last three months. 16.19% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in Constellation Brands by 4.6% in the 1st quarter. First Trust Advisors LP now owns 18,870 shares of the company’s stock worth $3,308,000 after purchasing an additional 833 shares in the last quarter. MML Investors Services LLC grew its stake in Constellation Brands by 7.9% during the third quarter. MML Investors Services LLC now owns 13,045 shares of the company’s stock worth $2,748,000 after buying an additional 959 shares in the last quarter. Toroso Investments LLC raised its position in shares of Constellation Brands by 44.4% in the 3rd quarter. Toroso Investments LLC now owns 3,006 shares of the company’s stock valued at $633,000 after buying an additional 924 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Constellation Brands by 13.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 24,699 shares of the company’s stock worth $5,204,000 after acquiring an additional 2,853 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Constellation Brands by 9.4% during the third quarter. Janus Henderson Group PLC now owns 2,195,652 shares of the company’s stock worth $462,603,000 after purchasing an additional 188,410 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

About Constellation Brands (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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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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