Constellation Brands (NYSE:STZ) Shares Gap Down – Here’s What Happened

Shares of Constellation Brands, Inc. (NYSE:STZ) gapped down prior to trading on Friday . The stock had previously closed at $222.57, but opened at $217.80. Constellation Brands shares last traded at $218.68, with a volume of 289,237 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Bank of America restated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Evercore ISI reduced their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Truist Financial dropped their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Finally, BNP Paribas started coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective on the stock. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $288.70.

Constellation Brands Stock Down 0.3 %

The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average price is $234.13 and its 200 day moving average price is $243.35. The firm has a market cap of $40.29 billion, a P/E ratio of 71.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 company insiders.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands in the second quarter worth about $36,000. Wellington Shields & Co. LLC grew its stake in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Eastern Bank bought a new stake in shares of Constellation Brands in the 3rd quarter worth approximately $39,000. Versant Capital Management Inc lifted its stake in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Constellation Brands during the third quarter worth approximately $42,000. Institutional investors own 77.34% of the company’s stock.

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.