Roth Mkm Trims Constellation Brands (NYSE:STZ) Target Price to $303.00

Constellation Brands (NYSE:STZ) had its price objective reduced by investment analysts at Roth Mkm from $305.00 to $303.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target would indicate a potential upside of 21.02% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a research report on Monday, April 15th. Piper Sandler initiated coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective for the company. Bank of America lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. HSBC lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $298.79.

Constellation Brands Stock Down 3.3 %

Constellation Brands stock opened at $250.37 on Friday. The company has a market cap of $45.81 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a fifty day simple moving average of $254.77 and a 200 day simple moving average of $253.97. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.91 earnings per share. Research analysts anticipate that Constellation Brands will post 13.67 earnings per share for the current fiscal year.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Institutional investors have recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of Constellation Brands during the 4th quarter valued at $28,000. YHB Investment Advisors Inc. acquired a new position in shares of Constellation Brands during the 1st quarter valued at $35,000. First Financial Corp IN acquired a new position in shares of Constellation Brands during the 1st quarter valued at $35,000. LRI Investments LLC acquired a new position in shares of Constellation Brands during the 1st quarter valued at $37,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands during the 4th quarter valued at $35,000. 77.34% of the stock is owned by institutional investors.

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.