Royal Bank of Canada Reaffirms Outperform Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $293.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 66.72% from the company’s current price.

Several other research analysts also recently commented on the company. Barclays lowered their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. StockNews.com downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Constellation Brands in a report on Monday, January 27th. Finally, Wells Fargo & Company cut their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $5.06 during trading on Monday, reaching $175.74. 2,374,153 shares of the company traded hands, compared to its average volume of 2,819,509. The firm has a market capitalization of $31.76 billion, a PE ratio of 47.32, a PEG ratio of 1.59 and a beta of 0.90. Constellation Brands has a 52 week low of $166.02 and a 52 week high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The company’s 50 day moving average is $215.42 and its two-hundred day moving average is $233.76.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $3.19 earnings per share. As a group, sell-side analysts predict that Constellation Brands will post 13.52 earnings per share for the current year.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,746 shares of company stock valued at $15,017,097. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. International Assets Investment Management LLC grew its position in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. State Street Corp increased its holdings in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Constellation Brands by 66.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after acquiring an additional 147,457 shares during the period. Finally, NFJ Investment Group LLC raised its position in Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after acquiring an additional 93,273 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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