Constellation Brands (NYSE:STZ) Price Target Lowered to $280.00 at Morgan Stanley

Constellation Brands (NYSE:STZ) had its price objective decreased by Morgan Stanley from $305.00 to $280.00 in a research report report published on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed an outperform rating and set a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. JPMorgan Chase & Co. increased their target price on Constellation Brands from $291.00 to $320.00 and gave the stock an overweight rating in a research note on Friday, July 5th. Jefferies Financial Group lifted their price target on Constellation Brands from $310.00 to $311.00 and gave the stock a buy rating in a report on Friday, July 5th. UBS Group upped their price objective on Constellation Brands from $315.00 to $320.00 and gave the company a buy rating in a report on Friday, July 5th. Finally, Roth Mkm dropped their target price on Constellation Brands from $305.00 to $303.00 and set a buy rating for the company in a report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $299.21.

Constellation Brands Stock Performance

Shares of STZ stock opened at $243.11 on Monday. The company has a fifty day moving average price of $249.62 and a two-hundred day moving average price of $253.84. Constellation Brands has a one year low of $227.50 and a one year high of $274.87. The stock has a market cap of $44.48 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.62 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $2.91 EPS. As a group, equities analysts predict that Constellation Brands will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,414 shares of company stock valued at $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. New Millennium Group LLC acquired a new position in Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands in the 2nd quarter valued at approximately $32,000. YHB Investment Advisors Inc. acquired a new stake in Constellation Brands during the 1st quarter worth approximately $35,000. Finally, First Financial Corp IN bought a new stake in Constellation Brands during the 1st quarter worth approximately $35,000. 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.