Evercore ISI Cuts Constellation Brands (NYSE:STZ) Price Target to $300.00

Constellation Brands (NYSE:STZ) had its price target reduced by Evercore ISI from $310.00 to $300.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently commented on STZ. Royal Bank of Canada reiterated an outperform rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, September 17th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a buy rating on the stock in a research report on Monday, September 9th. Truist Financial restated a hold rating and issued a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. Barclays raised their price objective on shares of Constellation Brands from $295.00 to $309.00 and gave the stock an overweight rating in a research report on Tuesday, September 24th. Finally, Roth Mkm decreased their target price on shares of Constellation Brands from $303.00 to $298.00 and set a buy rating on the stock in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $292.38.

Constellation Brands Stock Performance

NYSE STZ opened at $243.07 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $246.53 and its 200-day simple moving average is $253.29. The company has a market cap of $44.48 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $3.70 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of large investors have recently modified their holdings of STZ. Vanguard Group Inc. grew its position in shares of Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Capital International Investors grew its holdings in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares in the last quarter. Capital World Investors increased its position in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after purchasing an additional 222,380 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares in the last quarter. 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.