Constellation Brands (NYSE:STZ) Coverage Initiated at BNP Paribas

BNP Paribas assumed coverage on shares of Constellation Brands (NYSE:STZ) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $261.00 price target on the stock. BNP Paribas’ price objective suggests a potential upside of 11.69% from the stock’s previous close.

A number of other research analysts have also issued reports on STZ. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their target price for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Evercore ISI reduced their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands Stock Performance

NYSE:STZ opened at $233.68 on Monday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The stock has a market cap of $42.43 billion, a PE ratio of 75.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The firm’s fifty day simple moving average is $242.42 and its 200-day simple moving average is $247.08.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the company posted $3.70 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Insider Activity

In other 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 stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock worth $46,058,091 in the last three months. 12.19% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

A number of large investors have recently bought and sold shares of the stock. Industrial Alliance Investment Management Inc. raised its holdings in shares of Constellation Brands by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after purchasing an additional 44 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Constellation Brands by 12.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,105 shares of the company’s stock worth $2,288,000 after purchasing an additional 974 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Constellation Brands by 1.8% in the first quarter. California State Teachers Retirement System now owns 284,224 shares of the company’s stock worth $77,241,000 after purchasing an additional 5,111 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Constellation Brands by 51.5% in the first quarter. Tidal Investments LLC now owns 14,557 shares of the company’s stock worth $3,957,000 after purchasing an additional 4,949 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Constellation Brands in the first quarter worth about $282,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Company Profile

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.