UBS Group Trims Constellation Brands (NYSE:STZ) Target Price to $295.00

Constellation Brands (NYSE:STZ) had its price target reduced by UBS Group from $320.00 to $295.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently weighed in on STZ. Royal Bank of Canada reiterated an outperform rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their target price on Constellation Brands from $320.00 to $307.00 and set an overweight rating on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets restated an outperform rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Morgan Stanley cut their price objective on Constellation Brands from $305.00 to $280.00 and set an overweight rating on the stock in a report on Monday, August 26th. Finally, Roth Mkm lowered their target price on Constellation Brands from $303.00 to $298.00 and set a buy rating for the company in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of Moderate Buy and a consensus price target of $296.78.

Constellation Brands Stock Down 0.3 %

STZ stock opened at $248.79 on Monday. Constellation Brands has a one year low of $227.50 and a one year high of $274.87. The firm has a market cap of $45.52 billion, a PE ratio of 18.54, a PEG ratio of 1.67 and a beta of 1.75. The firm’s 50 day moving average price is $246.02 and its 200-day moving average price is $253.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.91 earnings per share. On average, equities research analysts anticipate that Constellation Brands will post 13.7 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Transactions at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in Constellation Brands by 3.5% during the fourth quarter. International Assets Investment Management LLC now owns 2,345 shares of the company’s stock worth $567,000 after buying an additional 79 shares during the period. Principal Securities Inc. purchased a new stake in Constellation Brands in the 4th quarter valued at $414,000. Cary Street Partners Investment Advisory LLC boosted its stake in Constellation Brands by 139.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,692 shares of the company’s stock worth $409,000 after purchasing an additional 984 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Constellation Brands by 7.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,637 shares of the company’s stock worth $4,505,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Constellation Brands by 12.5% in the fourth quarter. Principal Financial Group Inc. now owns 204,311 shares of the company’s stock valued at $49,392,000 after purchasing an additional 22,645 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

About Constellation Brands

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.