Barclays Cuts Constellation Brands (NYSE:STZ) Price Target to $282.00

Constellation Brands (NYSE:STZ) had its price target reduced by Barclays from $300.00 to $282.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI dropped their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. TD Cowen cut 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 research note on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research report on Friday, December 20th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.75.

Constellation Brands Stock Performance

Shares of STZ stock opened at $181.57 on Wednesday. The firm’s 50 day moving average is $231.88 and its 200 day moving average is $241.56. 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 12 month low of $179.55 and a 12 month high of $274.87. The stock has a market capitalization of $32.97 billion, a P/E ratio of 58.76, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.19 EPS. On average, sell-side analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.23%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,956 shares of company stock valued at $46,058,091. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Constellation Brands in the 2nd quarter worth approximately $36,000. Wellington Shields & Co. LLC raised its holdings in shares of 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 acquired a new position in shares of Constellation Brands in the 3rd quarter valued at $39,000. Finally, FSA Wealth Management LLC acquired a new stake in Constellation Brands during the 3rd quarter worth about $42,000. Hedge funds and other 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.