Constellation Brands (NYSE:STZ) Sets New 1-Year Low After Analyst Downgrade

Constellation Brands, Inc. (NYSE:STZ) hit a new 52-week low during trading on Wednesday after TD Cowen lowered their price target on the stock from $270.00 to $260.00. TD Cowen currently has a hold rating on the stock. Constellation Brands traded as low as $217.47 and last traded at $219.26, with a volume of 78160 shares changing hands. The stock had previously closed at $218.51.

A number of other analysts also recently commented on STZ. Truist Financial cut their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Roth Mkm reissued a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research report on Friday, December 20th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Wells Fargo & Company cut their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $284.75.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was 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. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 in the last ninety days. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STZ. Strategic Financial Concepts LLC increased its position in shares of Constellation Brands by 2,614.3% during the second quarter. Strategic Financial Concepts LLC now owns 31,649 shares of the company’s stock worth $81,000 after purchasing an additional 30,483 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Constellation Brands by 494.8% in the second quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock valued at $973,000 after acquiring an additional 3,152 shares during the period. Caprock Group LLC grew its position in shares of Constellation Brands by 15.5% during the second quarter. Caprock Group LLC now owns 3,642 shares of the company’s stock worth $937,000 after acquiring an additional 489 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at $36,000. Finally, Choreo LLC raised its position in Constellation Brands by 146.6% in the 2nd quarter. Choreo LLC now owns 6,261 shares of the company’s stock valued at $1,606,000 after purchasing an additional 3,722 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market cap of $39.79 billion, a price-to-earnings ratio of 70.93, a PEG ratio of 1.69 and a beta of 1.75. The stock’s 50 day moving average is $233.17 and its two-hundred day moving average is $242.30.

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.