Constellation Brands (NYSE:STZ) Price Target Raised to $182.00

Constellation Brands (NYSE:STZ) had its target price lifted by Bank of America from $180.00 to $182.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the company. CJS Securities reduced their price objective on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Citigroup reduced their price objective on Constellation Brands from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, June 18th. Bernstein Bank cut their target price on Constellation Brands from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley cut their target price on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group set a $225.00 target price on Constellation Brands and gave the company a “buy” rating in a research note on Friday, June 27th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.35.

Constellation Brands Stock Down 0.7%

Shares of NYSE:STZ opened at $172.61 on Thursday. Constellation Brands has a 52-week low of $159.35 and a 52-week high of $264.45. The firm has a market capitalization of $30.73 billion, a P/E ratio of -72.22, a P/E/G ratio of 9.57 and a beta of 0.67. The stock has a 50 day moving average price of $177.11 and a 200-day moving average price of $183.33. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the business earned $3.57 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a $1.02 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.36%. Constellation Brands’s dividend payout ratio (DPR) is currently -170.71%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors have recently bought and sold shares of STZ. Berkshire Hathaway Inc bought a new position in Constellation Brands in the 4th quarter worth $1,242,976,000. Vanguard Group Inc. raised its holdings in Constellation Brands by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after purchasing an additional 2,882,817 shares during the period. Wellington Management Group LLP raised its holdings in Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after acquiring an additional 2,514,517 shares during the period. Norges Bank bought a new stake in Constellation Brands during the fourth quarter valued at about $445,883,000. Finally, D1 Capital Partners L.P. raised its holdings in Constellation Brands by 186.6% during the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after acquiring an additional 994,639 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.