Constellation Brands (NYSE:STZ) Price Target Raised to $308.00

Constellation Brands (NYSE:STZ) had its price objective hoisted by Royal Bank of Canada from $295.00 to $308.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group boosted their target price on Constellation Brands from $292.00 to $314.00 and gave the stock a buy rating in a report on Friday. Wedbush reissued an outperform rating and set a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. TheStreet lowered Constellation Brands from a b rating to a c+ rating in a report on Friday, January 5th. Piper Sandler began coverage on Constellation Brands in a report on Friday, March 22nd. They set an overweight rating and a $300.00 target price on the stock. Finally, Evercore ISI reaffirmed an outperform rating and issued a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $298.55.

Constellation Brands Trading Down 1.4 %

NYSE STZ opened at $258.52 on Friday. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.78 and a beta of 0.97. The stock’s 50 day moving average price is $257.07 and its two-hundred day moving average price is $247.01. 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 has a 52 week low of $221.81 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the business posted $1.98 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Constellation Brands will post 13.43 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 37.95%.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors have recently modified their holdings of STZ. Prudential PLC bought a new position in shares of Constellation Brands during the 1st quarter valued at about $705,000. Cetera Investment Advisers boosted its holdings in Constellation Brands by 1.0% during the 1st quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock valued at $3,921,000 after acquiring an additional 163 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Constellation Brands by 17.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock valued at $725,000 after acquiring an additional 471 shares during the period. Vanguard Group Inc. lifted its holdings in Constellation Brands by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after buying an additional 313,344 shares during the period. Finally, Ergoteles LLC purchased a new stake in Constellation Brands in the 1st quarter worth approximately $257,000. 77.34% of the stock is currently 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.