Constellation Brands Inc (NYSE:STZ) Receives $190.16 Consensus Price Target from Brokerages

Constellation Brands Inc (NYSE:STZ) has earned a consensus recommendation of “Hold” from the twenty-eight brokerages that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $188.96.

STZ has been the topic of several research reports. BNP Paribas Exane lowered shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target on the stock. in a report on Wednesday, September 3rd. Barclays reiterated an “equal weight” rating and set a $150.00 price objective (down previously from $202.00) on shares of Constellation Brands in a research note on Friday, September 12th. BNP Paribas lowered shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 3rd. Raymond James Financial upgraded shares of Constellation Brands to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Citigroup dropped their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd.

Constellation Brands Trading Up 1.2%

NYSE STZ opened at $142.20 on Friday. Constellation Brands has a one year low of $131.20 and a one year high of $247.96. The company’s 50 day moving average price is $153.72 and its 200 day moving average price is $169.35. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of -59.50, a PEG ratio of 0.43 and a beta of 1.75.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is currently -170.71%.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.45% of the stock is owned by corporate insiders.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arlington Partners LLC bought a new stake in shares of Constellation Brands in the second quarter worth $2,333,000. Wesbanco Bank Inc. increased its stake in shares of Constellation Brands by 10.7% in the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock worth $7,049,000 after buying an additional 4,204 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Constellation Brands by 969.5% in the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock worth $13,609,000 after buying an additional 75,834 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock worth $560,000 after buying an additional 815 shares during the last quarter. Finally, Glenview Trust co increased its stake in shares of Constellation Brands by 6.8% in the first quarter. Glenview Trust co now owns 69,427 shares of the company’s stock worth $12,741,000 after buying an additional 4,421 shares during the last quarter. Institutional investors 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.