Cann Cuts Constellation Brands, Inc. Class A (STZ) Price Target to $226.00

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Constellation Brands, Inc. Class A (NYSE:STZ) had its price objective cut by Cann from $234.00 to $226.00 in a research note issued to investors on Thursday, The Fly reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on the company. OTR Global downgraded Constellation Brands, Inc. Class A to a positive rating in a report on Friday, June 15th. Morgan Stanley dropped their price objective on shares of Constellation Brands, Inc. Class A from $262.00 to $258.00 and set a buy rating for the company in a research report on Tuesday, July 3rd. Stifel Nicolaus boosted their price objective on shares of Constellation Brands, Inc. Class A from $228.00 to $230.00 and gave the stock a hold rating in a research report on Thursday, May 31st. ValuEngine cut shares of Constellation Brands, Inc. Class A from a buy rating to a hold rating in a research report on Friday, May 18th. Finally, Pivotal Research restated a buy rating and issued a $285.00 price objective on shares of Constellation Brands, Inc. Class A in a research report on Friday, June 29th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $246.34.

Shares of STZ opened at $203.93 on Thursday. The company has a market capitalization of $40.78 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.93 and a beta of 0.03. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.77 and a current ratio of 1.81. Constellation Brands, Inc. Class A has a one year low of $195.89 and a one year high of $236.62.

Constellation Brands, Inc. Class A (NYSE:STZ) last announced its earnings results on Friday, June 29th. The company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.22). The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. Constellation Brands, Inc. Class A had a return on equity of 19.81% and a net margin of 31.51%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.34 earnings per share. sell-side analysts expect that Constellation Brands, Inc. Class A will post 9.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, August 9th. Constellation Brands, Inc. Class A’s dividend payout ratio (DPR) is presently 10.67%.

Several institutional investors have recently modified their holdings of the business. Andra AP fonden raised its position in shares of Constellation Brands, Inc. Class A by 1.9% during the 2nd quarter. Andra AP fonden now owns 21,900 shares of the company’s stock valued at $4,793,000 after acquiring an additional 400 shares during the last quarter. Global X Management Co LLC raised its position in shares of Constellation Brands, Inc. Class A by 17.6% during the 2nd quarter. Global X Management Co LLC now owns 8,413 shares of the company’s stock valued at $1,841,000 after acquiring an additional 1,261 shares during the last quarter. MAI Capital Management raised its position in shares of Constellation Brands, Inc. Class A by 3.8% during the 2nd quarter. MAI Capital Management now owns 7,565 shares of the company’s stock valued at $1,656,000 after acquiring an additional 280 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Constellation Brands, Inc. Class A by 349.0% during the 2nd quarter. Bank of Nova Scotia now owns 254,497 shares of the company’s stock valued at $55,706,000 after acquiring an additional 197,814 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in shares of Constellation Brands, Inc. Class A by 243.3% during the 2nd quarter. Morse Asset Management Inc now owns 6,180 shares of the company’s stock valued at $1,353,000 after acquiring an additional 4,380 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.

About Constellation Brands, Inc. Class A

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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