Constellation Brands (NYSE:STZ) Price Target Raised to $298.00

Constellation Brands (NYSE:STZ – Get Rating) had its price target lifted by Morgan Stanley from $294.00 to $298.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on STZ. Wells Fargo & Company raised their target price on Constellation Brands from $275.00 to $280.00 and gave the company an overweight rating in a research report on Wednesday, June 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Constellation Brands from $250.00 to $248.00 in a research report on Tuesday. Truist Financial raised their target price on Constellation Brands from $213.00 to $245.00 and gave the company a hold rating in a research report on Friday, April 8th. Credit Suisse Group raised their target price on Constellation Brands from $278.00 to $295.00 and gave the company an outperform rating in a research report on Friday, April 8th. Finally, JPMorgan Chase & Co. decreased their target price on Constellation Brands from $278.00 to $276.00 and set an overweight rating for the company in a research report on Monday, April 4th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $269.27.

Shares of NYSE:STZ opened at $239.35 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. Constellation Brands has a twelve month low of $207.35 and a twelve month high of $261.52. The stock’s 50 day moving average is $243.82 and its 200-day moving average is $237.51. The firm has a market capitalization of $45.05 billion, a price-to-earnings ratio of -1,329.72, a PEG ratio of 1.96 and a beta of 1.06.

Constellation Brands (NYSE:STZ – Get Rating) last released its quarterly earnings results on Thursday, April 7th. The company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.22. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.02 billion. Constellation Brands had a positive return on equity of 16.43% and a negative net margin of 0.42%. Constellation Brands’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. Equities research analysts anticipate that Constellation Brands will post 11.13 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th were paid a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, May 4th. This represents a $3.20 annualized dividend and a yield of 1.34%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.14. Constellation Brands’s dividend payout ratio (DPR) is currently -516.67%.

In other Constellation Brands news, EVP Thomas Michael Kane sold 1,601 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 4,692 shares in the company, valued at approximately $1,169,903.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeremy S. G. Fowden sold 7,574 shares of Constellation Brands stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $240.38, for a total value of $1,820,638.12. Following the sale, the director now owns 18,501 shares of the company’s stock, valued at approximately $4,447,270.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,822 shares of company stock valued at $6,451,256. 16.19% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Core Wealth Advisors Inc. bought a new stake in shares of Constellation Brands during the 4th quarter valued at about $25,000. Curi Wealth Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at about $25,000. Wagner Wealth Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at about $26,000. MCF Advisors LLC bought a new stake in shares of Constellation Brands during the 1st quarter valued at about $25,000. Finally, Cassady Schiller Wealth Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

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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