Constellation Brands (NYSE:STZ) Price Target Cut to $260.00 by Analysts at TD Cowen

Constellation Brands (NYSE:STZ) had its price target lowered by TD Cowen from $270.00 to $260.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also weighed in on STZ. JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating for the company in a research note on Tuesday. Barclays dropped their price objective on shares of Constellation Brands from $300.00 to $282.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI reduced their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Price Performance

Shares of STZ stock opened at $219.17 on Wednesday. Constellation Brands has a twelve month low of $217.47 and a twelve month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a fifty day simple moving average of $233.17 and a two-hundred day simple moving average of $242.30. The stock has a market capitalization of $39.79 billion, a price-to-earnings ratio of 70.93, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.84%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,771,800.92. The trade was a 77.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 over the last quarter. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. boosted its stake in Constellation Brands by 9.0% during the 4th quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock worth $1,929,000 after purchasing an additional 718 shares during the last quarter. Doliver Advisors LP acquired a new position in Constellation Brands during the fourth quarter worth about $348,000. Nordea Investment Management AB boosted its position in Constellation Brands by 10.7% during the fourth quarter. Nordea Investment Management AB now owns 164,505 shares of the company’s stock worth $36,446,000 after acquiring an additional 15,942 shares during the last quarter. Versant Capital Management Inc grew its stake in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares in the last quarter. Finally, Copley Financial Group Inc. acquired a new stake in Constellation Brands in the 3rd quarter valued at about $455,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Company Profile

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.