TD Cowen Lowers Constellation Brands (NYSE:STZ) to Hold

TD Cowen lowered shares of Constellation Brands (NYSE:STZFree Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has $270.00 price objective on the stock, down from their previous price objective of $300.00.

Other equities analysts also recently issued research reports about the company. Evercore ISI decreased their price objective on Constellation Brands from $310.00 to $300.00 and set an outperform rating for the company in a report on Friday, October 4th. BMO Capital Markets reaffirmed an outperform rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Barclays dropped their target price on Constellation Brands from $309.00 to $300.00 and set an overweight rating on the stock in a research report on Monday. Bank of America reissued a neutral rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday. Finally, UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a buy rating on the stock in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $291.06.

Read Our Latest Report on Constellation Brands

Constellation Brands Stock Performance

Shares of STZ stock opened at $239.60 on Tuesday. 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 $227.50 and a fifty-two week high of $274.87. The stock has a 50 day moving average price of $246.33 and a two-hundred day moving average price of $252.82. The company has a market capitalization of $43.66 billion, a P/E ratio of 77.54, a PEG ratio of 1.70 and a beta of 0.88.

Constellation Brands (NYSE:STZGet Free Report) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 earnings per share. Analysts expect that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction 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 $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction 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 $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several large investors have recently modified their holdings of the stock. CVA Family Office LLC increased its position in shares of Constellation Brands by 22.9% during the 3rd quarter. CVA Family Office LLC now owns 295 shares of the company’s stock valued at $76,000 after purchasing an additional 55 shares during the last quarter. Gilman Hill Asset Management LLC increased its position in shares of Constellation Brands by 9.1% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 895 shares of the company’s stock valued at $231,000 after purchasing an additional 75 shares during the last quarter. Birch Hill Investment Advisors LLC increased its position in shares of Constellation Brands by 1.3% during the 3rd quarter. Birch Hill Investment Advisors LLC now owns 153,715 shares of the company’s stock valued at $39,611,000 after purchasing an additional 1,916 shares during the last quarter. CHICAGO TRUST Co NA increased its position in shares of Constellation Brands by 7.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 1,482 shares of the company’s stock valued at $382,000 after purchasing an additional 100 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Constellation Brands by 751.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,200 shares of the company’s stock valued at $309,000 after purchasing an additional 1,059 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

About Constellation Brands

(Get Free Report)

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.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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