Evercore ISI Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target reduced by Evercore ISI from $300.00 to $250.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

STZ has been the topic of a number of other research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a report on Monday. BNP Paribas initiated coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target for the company. Roth Mkm reissued a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Finally, Piper Sandler lowered their target price on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $261.40.

Constellation Brands Trading Down 0.8 %

Shares of NYSE STZ opened at $180.82 on Monday. Constellation Brands has a 12-month low of $176.51 and a 12-month high of $274.87. The company has a market cap of $32.83 billion, a price-to-earnings ratio of 58.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. 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’s 50 day simple moving average is $229.71 and its 200 day simple moving average is $240.26.

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

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,172 shares of company stock worth $16,778,841 in the last quarter. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in Constellation Brands by 494.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock valued at $973,000 after acquiring an additional 3,152 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $36,000. Oppenheimer & Co. Inc. boosted its stake in shares of Constellation Brands by 13.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 9,481 shares of the company’s stock valued at $2,439,000 after buying an additional 1,096 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Constellation Brands by 13.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 30,998 shares of the company’s stock valued at $7,940,000 after acquiring an additional 3,613 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of Constellation Brands by 40.8% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 10,636 shares of the company’s stock worth $2,736,000 after acquiring an additional 3,080 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.