Bank of America Issues Positive Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ - Free Report) had its price objective boosted by Bank of America from $180.00 to $182.00 in a research note issued to investors on Thursday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

STZ has been the subject of a number of other research reports. BMO Capital Markets cut their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Needham & Company LLC increased their price target on Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a report on Thursday. CJS Securities reduced their price objective on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. JPMorgan Chase & Co. upped their target price on Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Royal Bank Of Canada cut their target price on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and an average target price of $213.35.

Constellation Brands Price Performance

Shares of STZ traded down $1.26 during trading hours on Thursday, hitting $172.61. 1,808,258 shares of the stock were exchanged, compared to its average volume of 1,910,866. The stock's 50-day moving average price is $177.36 and its two-hundred day moving average price is $184.05. Constellation Brands has a 12-month low of $159.35 and a 12-month high of $264.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 1.07. The company has a market cap of $30.73 billion, a price-to-earnings ratio of -72.22, a price-to-earnings-growth ratio of 9.64 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. Constellation Brands's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.57 EPS. Research analysts expect that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

A number of hedge funds have recently added to or reduced their stakes in STZ. Confluence Investment Management LLC boosted its holdings in Constellation Brands by 1.5% in the second quarter. Confluence Investment Management LLC now owns 143,508 shares of the company's stock valued at $23,346,000 after purchasing an additional 2,135 shares during the period. Harbor Investment Advisory LLC raised its position in Constellation Brands by 40.8% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,094 shares of the company's stock valued at $178,000 after purchasing an additional 317 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Constellation Brands in the 1st quarter valued at about $1,190,000. First Hawaiian Bank boosted its stake in shares of Constellation Brands by 12.8% in the 1st quarter. First Hawaiian Bank now owns 3,864 shares of the company's stock valued at $709,000 after buying an additional 438 shares during the period. Finally, Invst LLC acquired a new position in shares of Constellation Brands during the first quarter worth about $1,366,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.