Constellation Brands (NYSE:STZ) Given New $300.00 Price Target at HSBC

Constellation Brands (NYSE:STZ) had its price target increased by HSBC from $290.00 to $300.00 in a research report sent to investors on Friday, Benzinga reports. HSBC currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Argus lowered Constellation Brands from a buy rating to a hold rating in a research note on Wednesday, January 10th. UBS Group raised their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a buy rating in a report on Friday. TheStreet downgraded shares of Constellation Brands from a b rating to a c+ rating in a research note on Friday, January 5th. Piper Sandler assumed coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They set an overweight rating and a $300.00 price objective for the company. Finally, Royal Bank of Canada restated an outperform rating and issued a $295.00 target price on shares of Constellation Brands in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $298.55.

Constellation Brands Trading Down 1.4 %

Shares of STZ opened at $258.52 on Friday. The firm has a market cap of $47.26 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands has a 1 year low of $221.81 and a 1 year high of $274.87. The company has a 50 day simple moving average of $257.07 and a two-hundred day simple moving average of $247.01.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $1.98 earnings per share. On average, equities analysts expect that Constellation Brands will post 13.43 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business 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. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.56%. Constellation Brands’s dividend payout ratio (DPR) is presently 37.95%.

Institutional Investors Weigh In On Constellation Brands

Large investors have recently added to or reduced their stakes in the stock. Indiana Trust & Investment Management CO bought a new stake in shares of Constellation Brands during the third quarter valued at approximately $25,000. Impact Partnership Wealth LLC raised its position in Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Constellation Brands in the 4th quarter worth $28,000. Asset Dedication LLC grew its position in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at $34,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.