Constellation Brands (NYSE:STZ) PT Lowered to $305.00 at BMO Capital Markets

Constellation Brands (NYSE:STZ) had its price objective reduced by BMO Capital Markets from $315.00 to $305.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Roth Mkm restated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Morgan Stanley decreased their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Trading Down 1.5 %

Constellation Brands stock opened at $240.04 on Tuesday. The stock has a market capitalization of $43.92 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The business’s fifty day moving average is $246.51 and its 200 day moving average is $251.75. Constellation Brands has a one year low of $227.64 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last issued 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. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the company earned $3.70 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,947 shares of company stock worth $4,098,736. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands in the 2nd quarter valued at about $119,394,000. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Howland Capital Management LLC lifted its stake in shares of Constellation Brands by 3.0% in the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after purchasing an additional 4,051 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Constellation Brands in the 4th quarter valued at about $958,000. Finally, Capital International Sarl lifted its stake in shares of Constellation Brands by 35.9% in the 1st quarter. Capital International Sarl now owns 10,462 shares of the company’s stock valued at $2,843,000 after purchasing an additional 2,764 shares in the last quarter. Hedge funds and other 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.