Constellation Brands (NYSE:STZ) PT Raised to $300.00

Constellation Brands (NYSE:STZ) had its price target boosted by HSBC from $290.00 to $300.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the stock. Bank of America upped their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a buy rating in a report on Monday, March 18th. Piper Sandler started coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an overweight rating and a $300.00 price objective for the company. BMO Capital Markets boosted their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an outperform rating in a report on Friday. TheStreet lowered Constellation Brands from a b rating to a c+ rating in a report on Friday, January 5th. Finally, Wedbush reiterated an outperform rating and issued a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $298.55.

Constellation Brands Stock Performance

Shares of STZ stock opened at $258.52 on Friday. Constellation Brands has a 52 week low of $221.81 and a 52 week high of $274.87. The firm’s 50-day simple moving average is $257.07 and its two-hundred day simple moving average is $247.01. The firm has a market cap 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 company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate 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%. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. As a group, equities analysts forecast that Constellation Brands will post 13.43 earnings per share for the current year.

Constellation Brands Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in STZ. Burns Matteson Capital Management LLC raised its position in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after purchasing an additional 42 shares during the period. 1620 Investment Advisors Inc. grew its stake in shares of Constellation Brands by 1.8% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after buying an additional 42 shares during the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Constellation Brands by 3.5% in the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after buying an additional 43 shares during the period. Smithfield Trust Co lifted its stake in shares of Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock valued at $207,000 after acquiring an additional 43 shares during the last quarter. Finally, Copperwynd Financial LLC boosted its holdings in Constellation Brands by 1.6% during the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after acquiring an additional 43 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.