Evercore ISI Reiterates Outperform Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reiterated by equities researchers at Evercore ISI in a report released on Wednesday, Benzinga reports. They presently have a $300.00 price objective on the stock. Evercore ISI’s price target would indicate a potential upside of 10.39% from the stock’s previous close.

STZ has been the subject of a number of other research reports. Piper Sandler began coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $295.00 target price on shares of Constellation Brands in a research note on Thursday, March 7th. Bank of America boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average target price of $290.37.

Constellation Brands Stock Down 0.1 %

STZ opened at $271.77 on Wednesday. Constellation Brands has a fifty-two week low of $217.05 and a fifty-two week high of $273.65. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.46 and a current ratio of 1.05. The company has a fifty day moving average of $253.01 and a two-hundred day moving average of $246.36. The stock has a market capitalization of $49.68 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.87 and a beta of 0.96.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.03 by $0.16. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Constellation Brands had a net margin of 14.76% and a return on equity of 23.35%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.83 earnings per share. On average, research analysts expect that Constellation Brands will post 11.92 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Family Foundation Sands sold 354,616 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $250.26, for a total transaction of $88,746,200.16. Following the sale, the insider now directly owns 54,461 shares of the company’s stock, valued at approximately $13,629,409.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Constellation Brands by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after purchasing an additional 313,344 shares during the last quarter. State Street Corp increased its position in shares of Constellation Brands by 0.8% in the 2nd quarter. State Street Corp now owns 6,936,028 shares of the company’s stock valued at $1,707,165,000 after purchasing an additional 51,968 shares during the last quarter. Morgan Stanley increased its position in shares of Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after purchasing an additional 58,518 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Constellation Brands by 84,839.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock valued at $867,309,000 after purchasing an additional 3,738,028 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock valued at $723,027,000 after purchasing an additional 1,483,668 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.