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

Constellation Brands (NYSE:STZ) had its price objective lifted by Royal Bank of Canada from $295.00 to $308.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on the company. Evercore ISI reissued an outperform rating and issued a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, March 27th. Barclays cut their target price on Constellation Brands from $296.00 to $294.00 and set an overweight rating on the stock in a research report on Friday, April 5th. TheStreet downgraded Constellation Brands from a b rating to a c+ rating in a research report on Friday, January 5th. Deutsche Bank Aktiengesellschaft upped their target price on Constellation Brands from $256.00 to $262.00 and gave the company a hold rating in a research report on Wednesday, April 10th. Finally, Roth Mkm reaffirmed a buy rating and set a $305.00 price target on shares of Constellation Brands in a research report on Friday. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $298.55.

Constellation Brands Stock Performance

Shares of STZ stock opened at $258.52 on Friday. The business’s fifty day simple moving average is $257.07 and its 200-day simple moving average is $247.01. The company has a market cap of $47.26 billion, a PE ratio of 27.56, a PEG ratio of 1.78 and a beta of 0.97. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands has a 12-month low of $221.81 and a 12-month high of $274.87.

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, topping analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 earnings per share. Analysts expect that Constellation Brands will post 13.43 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

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

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Constellation Brands by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after buying an additional 313,344 shares in the last quarter. Morgan Stanley lifted its stake in Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after buying an additional 58,518 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Constellation Brands by 84,839.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock valued at $867,309,000 after buying an additional 3,738,028 shares in the last quarter. Barclays PLC lifted its stake in Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock valued at $723,027,000 after buying an additional 1,483,668 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Constellation Brands by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 2,863,322 shares of the company’s stock valued at $645,055,000 after buying an additional 50,672 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Company Profile

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.