Constellation Brands (NYSE:STZ) Given New $309.00 Price Target at Barclays

Constellation Brands (NYSE:STZ) had its price objective lifted by Barclays from $295.00 to $309.00 in a research report report published on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

STZ has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $320.00 to $307.00 and set an overweight rating for the company in a report on Tuesday, September 3rd. UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a buy rating for the company in a report on Monday, September 9th. BMO Capital Markets reissued an outperform rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Truist Financial reaffirmed a hold rating and set a $265.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a buy rating in a research report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $297.12.

Constellation Brands Trading Up 1.3 %

Shares of STZ stock opened at $258.40 on Tuesday. The stock has a 50-day moving average of $245.83 and a 200-day moving average of $253.94. 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 stock has a market cap of $47.28 billion, a price-to-earnings ratio of 19.25, a PEG 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 released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the business earned $2.91 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands will post 13.53 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were 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 in the company, valued at approximately $2,808,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock valued at $3,982,922 over the last 90 days. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors have recently modified their holdings of STZ. New Millennium Group LLC bought a new position in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the second quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. bought a new stake in Constellation Brands in the first quarter worth about $35,000. Finally, First Financial Corp IN bought a new stake in Constellation Brands in the first quarter worth about $35,000. 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.