Constellation Brands (NYSE:STZ) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $295.00 target price on the stock.

STZ has been the subject of a number of other research reports. TheStreet cut shares of Constellation Brands from a b- rating to a c+ rating in a research note on Tuesday, September 5th. Wells Fargo & Company upped their target price on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an overweight rating in a report on Monday, July 3rd. TD Cowen raised shares of Constellation Brands from a market perform rating to an outperform rating and upped their target price for the stock from $240.00 to $300.00 in a report on Wednesday, September 6th. Roth Mkm upped their target price on shares of Constellation Brands from $270.00 to $284.00 and gave the stock a buy rating in a report on Monday, July 3rd. Finally, Roth Capital raised shares of Constellation Brands from a neutral rating to a buy rating in a report on Tuesday, May 30th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of Moderate Buy and an average price target of $270.05.

Constellation Brands Trading Up 0.1 %

Shares of STZ stock opened at $260.65 on Friday. Constellation Brands has a 52-week low of $208.12 and a 52-week high of $273.65. The stock has a market cap of $47.78 billion, a price-to-earnings ratio of -142.43, a P/E/G ratio of 1.98 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.53 and a current ratio of 1.14. The firm has a fifty day moving average of $262.87 and a 200-day moving average of $242.25.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.08. Constellation Brands had a negative net margin of 3.14% and a positive return on equity of 22.32%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the company posted $2.66 EPS. The business’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands will post 11.59 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, August 9th. Constellation Brands’s dividend payout ratio (DPR) is presently -194.54%.

Insider Activity

In related news, CEO William A. Newlands sold 49,425 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total value of $13,240,957.50. Following the sale, the chief executive officer now directly owns 9,316 shares in the company, valued at approximately $2,495,756.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,736 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $269.86, for a total value of $468,476.96. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $872,187.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 49,425 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the completion of the sale, the chief executive officer now owns 9,316 shares in the company, valued at $2,495,756.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,819 shares of company stock valued at $27,054,755. 16.19% of the stock is currently owned by insiders.

Institutional Trading of Constellation Brands

Hedge funds have recently modified their holdings of the company. AXS Investments LLC acquired a new stake in Constellation Brands during the 4th quarter worth approximately $26,000. Old North State Trust LLC raised its holdings in Constellation Brands by 3,290.0% during the 1st quarter. Old North State Trust LLC now owns 678 shares of the company’s stock worth $27,000 after buying an additional 658 shares during the period. CVA Family Office LLC raised its holdings in Constellation Brands by 323.1% during the 2nd quarter. CVA Family Office LLC now owns 110 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the period. Zions Bancorporation N.A. raised its holdings in Constellation Brands by 135.6% during the 4th quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock worth $32,000 after buying an additional 80 shares during the period. Finally, TimeScale Financial Inc. acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $34,000. 88.99% 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.