Constellation Brands (NYSE:STZ) Price Target Lowered to $233.00 at Royal Bank of Canada

Constellation Brands (NYSE:STZ - Free Report) had its price objective cut by Royal Bank of Canada from $289.00 to $233.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on STZ. Piper Sandler downgraded Constellation Brands from an "overweight" rating to a "neutral" rating and cut their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Argus downgraded Constellation Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Barclays raised their target price on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, Roth Mkm reduced their target price on Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $224.42.

Constellation Brands Trading Up 1.9 %

Shares of Constellation Brands stock traded up $3.55 during trading on Monday, reaching $186.58. 1,295,276 shares of the company were exchanged, compared to its average volume of 1,693,049. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands has a twelve month low of $160.46 and a twelve month high of $265.70. The firm has a market capitalization of $33.72 billion, a price-to-earnings ratio of 50.16, a P/E/G ratio of 1.52 and a beta of 1.75. The business has a 50-day moving average price of $178.56 and a 200-day moving average price of $206.89.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.19%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is currently -800.00%.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. Capital World Investors grew its stake in shares of Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after buying an additional 324,690 shares during the period. Berkshire Hathaway Inc purchased a new stake in Constellation Brands during the fourth quarter valued at about $1,242,976,000. Geode Capital Management LLC increased its position in Constellation Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after purchasing an additional 63,323 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Constellation Brands by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock valued at $641,336,000 after acquiring an additional 18,557 shares in the last quarter. 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.