Constellation Brands (NYSE:STZ) Upgraded by Argus to Buy

Argus upgraded shares of Constellation Brands (NYSE:STZ) from a hold rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat reports. They currently have $306.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Evercore ISI lifted their price objective on Constellation Brands from $300.00 to $310.00 and gave the company an outperform rating in a research report on Friday, April 12th. Piper Sandler initiated coverage on Constellation Brands in a research report on Friday, March 22nd. They issued an overweight rating and a $300.00 price objective for the company. Wedbush reaffirmed an outperform rating and issued a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. BMO Capital Markets boosted their price target on Constellation Brands from $290.00 to $315.00 and gave the company an outperform rating in a research report on Friday, April 12th. Finally, UBS Group boosted their price target on Constellation Brands from $312.00 to $320.00 and gave the company a buy rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $298.55.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $257.31 on Monday. The company has a market cap of $47.04 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97. 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 1-year low of $221.81 and a 1-year high of $274.87. The stock’s 50-day moving average is $257.51 and its two-hundred day moving average is $247.13.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is 37.95%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several institutional investors have recently modified their holdings of STZ. Indiana Trust & Investment Management CO acquired a new stake in shares of Constellation Brands during the 3rd quarter worth approximately $25,000. Impact Partnership Wealth LLC grew its holdings in shares of Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Asset Dedication LLC lifted its position in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $34,000. 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.