Constellation Brands (NYSE:STZ) PT Raised to $300.00

Constellation Brands (NYSE:STZ) had its price target raised by equities research analysts at HSBC from $290.00 to $300.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. HSBC’s price objective would indicate a potential upside of 14.40% from the stock’s previous close.

STZ has been the subject of several other reports. TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. lowered their price target on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Piper Sandler started coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target for the company. UBS Group boosted their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Bank of America boosted their price target 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. Four research 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $298.11.

Constellation Brands Stock Down 2.3 %

Shares of NYSE:STZ opened at $262.24 on Friday. Constellation Brands has a 52-week low of $221.81 and a 52-week high of $274.87. The firm has a fifty day moving average of $256.84 and a 200 day moving average of $246.99. The firm has a market capitalization of $47.94 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.46 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business earned $1.98 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Constellation Brands will post 13.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC increased its position in shares of Constellation Brands by 17.2% during the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock valued at $4,327,000 after buying an additional 2,526 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Constellation Brands by 15.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock valued at $8,151,000 after buying an additional 4,311 shares during the period. Perigon Wealth Management LLC increased its position in shares of Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after buying an additional 1,893 shares during the period. CoreCap Advisors LLC grew its holdings in Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after purchasing an additional 528 shares during the period. Finally, Ascent Wealth Partners LLC purchased a new stake in Constellation Brands in the fourth quarter worth about $962,000. 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.