Constellation Brands (NYSE:STZ) Given New $314.00 Price Target at Jefferies Financial Group

Constellation Brands (NYSE:STZ) had its target price increased by Jefferies Financial Group from $292.00 to $314.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on STZ. Wedbush reaffirmed an outperform rating and set a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, April 10th. BMO Capital Markets lifted their price objective on Constellation Brands from $290.00 to $315.00 and gave the company an outperform rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Constellation Brands from $256.00 to $262.00 and gave the company a hold rating in a report on Wednesday, April 10th. Barclays decreased their price objective on Constellation Brands from $296.00 to $294.00 and set an overweight rating on the stock in a report on Friday, April 5th. Finally, Piper Sandler began coverage on Constellation Brands in a report on Friday, March 22nd. They set an overweight rating and a $300.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $298.55.

Constellation Brands Trading Down 1.4 %

Shares of STZ opened at $258.52 on Friday. Constellation Brands has a 12-month low of $221.81 and a 12-month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $47.26 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.78 and a beta of 0.97. The stock’s 50-day moving average price is $257.07 and its 200 day moving average price is $247.01.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Constellation Brands will post 13.43 earnings per share for the current year.

Constellation Brands Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STZ. Prudential PLC bought a new stake in shares of Constellation Brands during the 1st quarter valued at $705,000. Cetera Investment Advisers raised its position in shares of 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 last quarter. Sequoia Financial Advisors LLC raised its position in shares of 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 last quarter. Vanguard Group Inc. raised its position in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after acquiring an additional 313,344 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in shares of Constellation Brands during the 1st quarter valued at $257,000. Institutional investors and hedge funds 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.