Sanford C. Bernstein Cuts Constellation Brands (NYSE:STZ) Price Target to $180.00

Constellation Brands (NYSE:STZ) had its target price decreased by Sanford C. Bernstein from $197.00 to $180.00 in a research report released on Monday morning, MarketBeat reports. Sanford C. Bernstein currently has an outperform rating on the stock.

Several other analysts also recently commented on STZ. Citigroup lowered their price objective on Constellation Brands from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Constellation Brands in a research report on Friday, July 31st. Wells Fargo & Company decreased their price target on Constellation Brands from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, June 29th. BMO Capital Markets reissued an “outperform” rating and issued a $190.00 price target on shares of Constellation Brands in a research report on Thursday, July 2nd. Finally, Evercore set a $160.00 price target on Constellation Brands in a research report on Monday, September 21st. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $159.33.

Constellation Brands Trading Up 0.4%

NYSE:STZ opened at $113.22 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.91 and a quick ratio of 0.48. The firm has a 50-day moving average of $127.63 and a 200-day moving average of $139.70. The company has a market cap of $19.34 billion, a PE ratio of 10.80, a PEG ratio of 2.24 and a beta of 0.41. Constellation Brands has a one year low of $111.54 and a one year high of $168.60.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.27). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.39 billion. Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. Constellation Brands’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.22 EPS. As a group, equities research analysts expect that Constellation Brands will post 11.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Constellation Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors increased its position in shares of Constellation Brands by 8.3% during the fourth quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock valued at $998,740,000 after acquiring an additional 553,974 shares during the last quarter. Capital International Investors boosted its position in Constellation Brands by 48.5% in the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after purchasing an additional 2,105,546 shares during the last quarter. Geode Capital Management LLC boosted its position in Constellation Brands by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 3,739,549 shares of the company’s stock worth $513,871,000 after purchasing an additional 54,184 shares during the last quarter. Van ECK Associates Corp grew its stake in Constellation Brands by 11.0% in the 4th quarter. Van ECK Associates Corp now owns 2,397,275 shares of the company’s stock valued at $330,728,000 after purchasing an additional 237,073 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Constellation Brands by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,826,652 shares of the company’s stock valued at $274,029,000 after purchasing an additional 88,538 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation’s products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.