Argus Upgrades Constellation Brands (NYSE:STZ) to “Buy”

Argus upgraded shares of Constellation Brands (NYSE:STZ) from a hold rating to a buy rating in a report issued on Monday morning, Marketbeat reports. The brokerage currently has $306.00 target price on the stock.

A number of other equities analysts have also recently issued reports on STZ. Piper Sandler started coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an overweight rating and a $300.00 price objective for the company. HSBC increased their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a buy rating in a research note on Friday, April 12th. Evercore ISI lifted their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the company an outperform rating in a report on Friday, April 12th. TheStreet downgraded shares of Constellation Brands from a b rating to a c+ rating in a report on Friday, January 5th. Finally, Royal Bank of Canada lifted their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the company an outperform rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $298.55.

Constellation Brands Trading Up 0.5 %

Shares of STZ stock opened at $258.68 on Monday. Constellation Brands has a 52-week low of $221.81 and a 52-week high of $274.87. The stock has a market cap of $47.29 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a fifty day moving average of $257.82 and a 200-day moving average of $247.21.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company posted $1.98 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a dividend of $1.01 per share. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.56%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 37.95%.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were 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 $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Prudential PLC acquired a new position in shares of Constellation Brands in the first quarter valued at about $705,000. Cetera Investment Advisers raised its holdings in shares of Constellation Brands by 1.0% during the 1st quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock worth $3,921,000 after buying an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Constellation Brands by 17.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock worth $725,000 after buying an additional 471 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after buying an additional 313,344 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in Constellation Brands in the 1st quarter worth about $257,000. 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.