Wells Fargo & Company Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its target price lowered by analysts at Wells Fargo & Company from $295.00 to $275.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 25.47% from the company’s current price.

STZ has been the topic of a number of other research reports. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a report on Friday, December 20th. Barclays cut their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Finally, Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Price Performance

Shares of STZ opened at $219.17 on Tuesday. The firm has a fifty day simple moving average of $233.17 and a two-hundred day simple moving average of $242.30. The firm has a market cap of $39.79 billion, a PE ratio of 70.93, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands has a 1-year low of $217.47 and a 1-year high of $274.87.

Insider Buying and Selling at Constellation Brands

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 sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders have sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc raised its position 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 period. Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at $36,000. Wellington Shields & Co. LLC lifted its position in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the last quarter. Eastern Bank purchased a new position in Constellation Brands during the third quarter worth $39,000. Finally, FSA Wealth Management LLC bought a new position in Constellation Brands during the third quarter valued at $42,000. Institutional investors 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.