Constellation Brands’ (STZ) “Buy” Rating Reiterated at Roth Mkm

by · The Cerbat Gem

Roth Mkm restated their buy rating on shares of Constellation Brands (NYSE:STZ – Free Report) in a report published on Friday, Benzinga reports. Roth Mkm currently has a $298.00 target price on the stock.

STZ has been the topic of several other research reports. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $320.00 to $307.00 and set an overweight rating on the stock in a research note on Tuesday, September 3rd. Morgan Stanley lowered their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an overweight rating on the stock in a research report on Monday, August 26th. BMO Capital Markets reiterated an outperform rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a buy rating for the company in a research note on Monday, September 9th. Finally, Truist Financial lowered their price target on shares of Constellation Brands from $265.00 to $255.00 and set a hold rating on the stock in a report on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $292.38.

Check Out Our Latest Stock Report on STZ

Constellation Brands Stock Performance

Shares of STZ opened at $243.07 on Friday. The company has a 50-day moving average of $246.53 and a two-hundred day moving average of $253.29. The stock has a market cap of $44.48 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.74 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands has a one year low of $227.50 and a one year high of $274.87.

Constellation Brands (NYSE:STZ – Get Free Report) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.70 EPS. On average, equities research analysts expect that Constellation Brands will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STZ. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares during the period. Capital International Investors raised its holdings in Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after acquiring an additional 3,304,709 shares in the last quarter. Capital World Investors lifted its position in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the period. Capital Research Global Investors grew its holdings in shares of Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after purchasing an additional 222,380 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares during the period. Institutional investors own 77.34% of the company’s stock.

About Constellation Brands

(Get Free Report)

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.

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