Truist Financial Reaffirms Hold Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “hold” rating reissued by equities research analysts at Truist Financial in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $265.00 target price on the stock. Truist Financial’s target price indicates a potential upside of 5.84% from the company’s previous close.

A number of other brokerages have also recently commented on STZ. BMO Capital Markets upped their price target on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Barclays dropped their price objective on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, May 28th. Piper Sandler initiated coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Finally, Evercore ISI increased their price objective on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $298.63.

Constellation Brands Price Performance

Constellation Brands stock traded down $8.57 during midday trading on Wednesday, reaching $250.37. The company’s stock had a trading volume of 2,665,931 shares, compared to its average volume of 1,204,986. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $255.22 and a 200-day moving average price of $254.02. The stock has a market cap of $45.81 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm earned $2.91 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Constellation Brands will post 13.67 EPS for the current year.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Hedge funds have recently made changes to their positions in the business. Perigon Wealth Management LLC raised its holdings in Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after purchasing an additional 1,893 shares in the last quarter. Stifel Financial Corp increased its holdings in Constellation Brands by 3.2% in the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock valued at $46,570,000 after buying an additional 5,951 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Constellation Brands by 35.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after purchasing an additional 528 shares in the last quarter. Ascent Wealth Partners LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $962,000. Finally, KBC Group NV increased its stake in shares of Constellation Brands by 100.4% during the 4th quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after purchasing an additional 125,730 shares in the last quarter. Institutional investors and hedge funds 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.