Wells Fargo & Company Lowers Constellation Brands (NYSE:STZ) Price Target to $295.00

Constellation Brands (NYSE:STZ) had its price objective reduced by investment analysts at Wells Fargo & Company from $300.00 to $295.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 25.02% from the company’s previous close.

Other analysts also recently issued research reports about the company. Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. UBS Group lowered their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. reduced their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. BMO Capital Markets decreased 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, Roth Mkm reiterated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $289.16.

Constellation Brands Trading Up 1.0 %

NYSE:STZ opened at $235.97 on Tuesday. The company has a market capitalization of $42.84 billion, a P/E ratio of 76.37, a P/E/G ratio of 1.71 and a beta of 0.90. The stock’s 50 day moving average price is $242.12 and its 200 day moving average price is $247.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands has a 52 week low of $224.76 and a 52 week high of $274.87.

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

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several hedge funds have recently modified their holdings of STZ. New Millennium Group LLC bought a new stake in Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands in the second quarter valued at $32,000. Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands in the second quarter valued at about $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands during the 2nd quarter worth about $36,000. 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.