Royal Bank of Canada Reiterates “Outperform” Rating for Constellation Brands (NYSE:STZ)

Royal Bank of Canada reissued their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a $308.00 target price on the stock.

A number of other research firms have also recently weighed in on STZ. Truist Financial reduced 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. UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Barclays cut their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $286.15.

Constellation Brands Price Performance

Shares of STZ opened at $218.44 on Tuesday. The business’s 50-day moving average is $233.49 and its two-hundred day moving average is $242.46. The company has a market capitalization of $39.66 billion, a P/E ratio of 70.69, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands has a fifty-two week low of $217.52 and a fifty-two week high of $274.87.

Insider Transactions at Constellation Brands

In related news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. The trade was a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 in the last 90 days. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the period. Janus Henderson Group PLC boosted its position in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares during the period. Legal & General Group Plc boosted its position in Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares during the period. Dimensional Fund Advisors LP boosted its position in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. 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.