Constellation Brands (NYSE:STZ) Price Target Raised to $170.00

Constellation Brands (NYSE:STZ) had its price target increased by Piper Sandler from $165.00 to $170.00 in a research report sent to investors on Friday. Piper Sandler currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on STZ. BMO Capital Markets reduced their target price on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Constellation Brands from $191.00 to $185.00 and set a “hold” rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $215.00 target price on shares of Constellation Brands in a research report on Thursday, April 10th. Barclays boosted their price target on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Finally, Morgan Stanley reduced their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.00.

Constellation Brands Trading Down 0.5%

NYSE STZ traded down $0.89 during trading hours on Friday, hitting $171.05. The company’s stock had a trading volume of 2,231,335 shares, compared to its average volume of 1,793,976. Constellation Brands has a twelve month low of $160.46 and a twelve month high of $265.70. 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 firm has a market capitalization of $30.45 billion, a P/E ratio of 45.98, a PEG ratio of 1.52 and a beta of 1.75. The stock has a fifty day moving average of $183.90 and a 200 day moving average of $193.05.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the company earned $2.26 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is -800.00%.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares of the company’s stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.19% of the stock is currently owned by insiders.

Institutional Trading of Constellation Brands

Institutional investors have recently bought and sold shares of the company. First Hawaiian Bank boosted its position in shares of Constellation Brands by 12.8% during the 1st quarter. First Hawaiian Bank now owns 3,864 shares of the company’s stock valued at $709,000 after purchasing an additional 438 shares in the last quarter. Invst LLC bought a new stake in shares of Constellation Brands in the 1st quarter valued at $1,366,000. Strs Ohio acquired a new position in shares of Constellation Brands during the 1st quarter valued at $6,460,000. Intrua Financial LLC bought a new position in Constellation Brands during the first quarter worth $231,000. Finally, Jacobi Capital Management LLC grew its holdings in Constellation Brands by 6.2% in the first quarter. Jacobi Capital Management LLC now owns 6,748 shares of the company’s stock worth $1,238,000 after purchasing an additional 395 shares during the period. 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.