Constellation Brands (NYSE:STZ) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report report published on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $308.00 target price on the stock.

STZ has been the subject of several other research reports. Jefferies Financial Group raised their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a buy rating in a research note on Friday, July 5th. Roth Mkm reduced their price objective on shares of Constellation Brands from $303.00 to $298.00 and set a buy rating for the company in a research note on Wednesday, September 4th. Barclays raised their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the company an overweight rating in a report on Friday, July 19th. BMO Capital Markets reaffirmed an outperform rating and issued a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Finally, Truist Financial restated a hold rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of Moderate Buy and a consensus target price of $296.78.

Constellation Brands Stock Performance

Shares of STZ stock opened at $248.09 on Tuesday. The firm’s 50 day moving average is $245.42 and its 200 day moving average is $253.90. The stock has a market capitalization of $45.39 billion, a P/E ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands has a 12 month low of $227.50 and a 12 month 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.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands will post 13.53 earnings per share 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 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated 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 owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction 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 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 legal filing with the SEC, which is available through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated 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 owns 11,702 shares in the company, valued at approximately $2,808,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by insiders.

Institutional Trading of Constellation Brands

Several large investors have recently modified their holdings of STZ. Orion Portfolio Solutions LLC grew its position in shares of Constellation Brands by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after buying an additional 39 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Constellation Brands by 16.5% in the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after acquiring an additional 41 shares during the period. 1620 Investment Advisors Inc. boosted its holdings in Constellation Brands by 1.8% in the fourth quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after acquiring an additional 42 shares in the last quarter. Copperwynd Financial LLC increased its position in Constellation Brands by 1.6% during the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after purchasing an additional 43 shares during the period. Finally, Brighton Jones LLC increased its position in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares during the period. 77.34% of the stock is owned by institutional investors.

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.