Constellation Brands (NYSE:STZ) Given Outperform Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Constellation Brands (NYSE:STZ) in a report released on Friday, Benzinga reports. BMO Capital Markets currently has a $315.00 price target on the stock.

STZ has been the subject of a number of other research reports. Barclays cut their price objective on shares of Constellation Brands from $295.00 to $288.00 and set an overweight rating for the company in a research report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a hold rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. cut their target price on Constellation Brands from $296.00 to $291.00 and set an overweight rating for the company in a research note on Thursday, June 20th. Jefferies Financial Group upped their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a buy rating in a report on Friday, April 12th. Finally, UBS Group reduced their target price on Constellation Brands from $320.00 to $315.00 and set a buy rating for the company in a report on Thursday, June 20th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has a consensus rating of Moderate Buy and a consensus price target of $300.11.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $253.87 on Friday. 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 one year low of $227.50 and a one year high of $274.87. The company has a 50-day simple moving average of $254.60 and a 200-day simple moving average of $254.46. The stock has a market capitalization of $46.45 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.72 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the business earned $2.91 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that Constellation Brands will post 13.67 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s payout ratio is currently 43.07%.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,031 shares of company stock worth $12,582,321. 12.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Constellation Brands

A number of institutional investors have recently bought and sold shares of STZ. Advisors Asset Management Inc. grew its stake in Constellation Brands by 12.1% during the third quarter. Advisors Asset Management Inc. now owns 5,041 shares of the company’s stock worth $1,267,000 after buying an additional 546 shares during the period. Seven Eight Capital LP purchased a new stake in Constellation Brands during the 3rd quarter worth $682,000. Scotia Capital Inc. increased its holdings in Constellation Brands by 94.9% in the 3rd quarter. Scotia Capital Inc. now owns 4,507 shares of the company’s stock valued at $1,133,000 after purchasing an additional 2,195 shares in the last quarter. Royal London Asset Management Ltd. raised its position in Constellation Brands by 2.6% in the third quarter. Royal London Asset Management Ltd. now owns 66,390 shares of the company’s stock valued at $16,695,000 after purchasing an additional 1,686 shares during the period. Finally, Dana Investment Advisors Inc. lifted its stake in shares of Constellation Brands by 2.9% during the third quarter. Dana Investment Advisors Inc. now owns 3,912 shares of the company’s stock worth $983,000 after purchasing an additional 110 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other 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.