Roth Mkm Trims Constellation Brands (NYSE:STZ) Target Price to $298.00

Constellation Brands (NYSE:STZ) had its price objective trimmed by Roth Mkm from $303.00 to $298.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

STZ has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced 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. Barclays increased their target price on Constellation Brands from $287.00 to $295.00 and gave the stock an overweight rating in a research note on Friday, July 19th. BMO Capital Markets reiterated an outperform rating and issued a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Truist Financial reiterated a hold rating and issued a $265.00 target price on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, UBS Group increased their target price on Constellation Brands from $315.00 to $320.00 and gave the stock a buy rating in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $298.17.

Constellation Brands Trading Up 0.3 %

STZ stock opened at $249.01 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market capitalization of $45.56 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.59 and a beta of 1.75. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The business has a 50 day simple moving average of $246.35 and a two-hundred day simple moving average of $253.65.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $2.91 earnings per share. Research analysts anticipate that Constellation Brands will post 13.54 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.62%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated 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 owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last quarter. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Institutional investors have recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new stake in shares of Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. acquired a new stake in shares of Constellation Brands during the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $35,000. 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 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.