Constellation Brands (NYSE:STZ) Price Target Lowered to $190.00 at Truist Financial

Constellation Brands (NYSE:STZ) had its target price decreased by equities research analysts at Truist Financial from $255.00 to $190.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 4.16% from the stock’s current price.

Several other analysts also recently weighed in on STZ. Bank of America reissued a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Wells Fargo & Company decreased their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets dropped their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a research report on Monday. Finally, Morgan Stanley reduced their target price on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Constellation Brands Trading Down 1.9 %

Shares of NYSE STZ traded down $3.50 during trading on Tuesday, reaching $182.41. The stock had a trading volume of 209,663 shares, compared to its average volume of 2,863,355. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market cap of $33.12 billion, a P/E ratio of 59.03, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands has a fifty-two week low of $176.51 and a fifty-two week high of $274.87. The business’s 50-day moving average price is $230.80 and its 200-day moving average price is $240.79.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $3.19 EPS. On average, equities research analysts predict that Constellation Brands will post 13.57 EPS for the current fiscal year.

Insider Activity

In related news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,446 shares of company stock worth $45,687,281. 12.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares in the last quarter. State Street Corp increased its stake in Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after acquiring an additional 241,982 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after acquiring an additional 147,457 shares during the period. Finally, NFJ Investment Group LLC lifted its position in shares of Constellation Brands by 617.3% in the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after acquiring an additional 93,273 shares in the last quarter. 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 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.