Constellation Brands’ (STZ) Buy Rating Reiterated at Evercore ISI

Evercore ISI reiterated their buy rating on shares of Constellation Brands (NYSE:STZ) in a report issued on Wednesday morning, PriceTargets.com reports. They currently have a $275.00 price target on the stock.

Several other brokerages have also recently commented on STZ. Jefferies Financial Group boosted their target price on Constellation Brands from $295.00 to $298.00 and gave the stock a buy rating in a report on Monday, June 28th. TheStreet cut Constellation Brands from a b- rating to a c+ rating in a report on Tuesday, July 13th. Barclays decreased their price target on shares of Constellation Brands from $266.00 to $260.00 and set an overweight rating on the stock in a research report on Thursday, September 16th. MKM Partners lifted their price target on shares of Constellation Brands from $216.00 to $226.00 and gave the stock a neutral rating in a research report on Thursday, July 1st. Finally, BMO Capital Markets lifted their price target on shares of Constellation Brands from $223.00 to $242.00 and gave the stock a hold rating in a research report on Thursday, July 1st. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $257.39.

STZ opened at $212.62 on Wednesday. The business’s 50 day moving average is $216.69 and its 200-day moving average is $227.46. The stock has a market cap of $40.84 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 3.52 and a beta of 1.19. The company has a current ratio of 1.61, a quick ratio of 0.94 and a debt-to-equity ratio of 0.79. Constellation Brands has a twelve month low of $160.63 and a twelve month high of $244.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Tuesday, June 29th. The company reported $2.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.35 by ($0.02). Constellation Brands had a net margin of 13.47% and a return on equity of 14.99%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm posted $2.30 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts forecast that Constellation Brands will post 10.04 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Shareholders of record on Tuesday, August 10th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Monday, August 9th. Constellation Brands’s dividend payout ratio (DPR) is currently 9.33%.

Several large investors have recently modified their holdings of STZ. Horizon Investments LLC lifted its stake in shares of Constellation Brands by 0.9% in the 1st quarter. Horizon Investments LLC now owns 5,307 shares of the company’s stock valued at $1,210,000 after purchasing an additional 45 shares during the last quarter. Financial Advocates Investment Management lifted its stake in shares of Constellation Brands by 2.2% in the 1st quarter. Financial Advocates Investment Management now owns 2,135 shares of the company’s stock valued at $487,000 after purchasing an additional 46 shares during the last quarter. Clearstead Advisors LLC lifted its stake in shares of Constellation Brands by 3.5% in the 1st quarter. Clearstead Advisors LLC now owns 1,388 shares of the company’s stock valued at $317,000 after purchasing an additional 47 shares during the last quarter. Cadence Bank NA lifted its stake in shares of Constellation Brands by 1.0% in the 2nd quarter. Cadence Bank NA now owns 4,647 shares of the company’s stock valued at $1,087,000 after purchasing an additional 48 shares during the last quarter. Finally, Benedict Financial Advisors Inc. lifted its stake in shares of Constellation Brands by 0.8% in the 1st quarter. Benedict Financial Advisors Inc. now owns 6,130 shares of the company’s stock valued at $1,398,000 after purchasing an additional 49 shares during the last quarter. 70.41% of the stock is owned by institutional investors.

Constellation Brands Company Profile

Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.

Further Reading: What does a hold rating mean?

Analyst Recommendations for Constellation Brands (NYSE:STZ)

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