Evercore ISI Lowers Constellation Brands (NYSE:STZ) Price Target to $250.00

Constellation Brands (NYSE:STZ) had its target price dropped by equities research analysts at Evercore ISI from $300.00 to $250.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 37.23% from the stock’s previous close.

Several other research analysts also recently weighed in on STZ. Morgan Stanley dropped their target price on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research note on Monday. Piper Sandler dropped their price target on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. BNP Paribas assumed coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. Finally, TD Cowen cut their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Constellation Brands Stock Performance

STZ stock opened at $182.18 on Monday. Constellation Brands has a one year low of $176.51 and a one year high of $274.87. The firm has a market cap of $33.08 billion, a price-to-earnings ratio of 58.96, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The firm has a 50-day simple moving average of $229.71 and a two-hundred day simple moving average of $240.26.

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

Insider Activity

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,172 shares of company stock valued at $16,778,841 in the last three months. 12.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Constellation Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares during the period. Janus Henderson Group PLC raised its position in shares of Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after purchasing an additional 21,454 shares during the last quarter. Legal & General Group Plc raised its position in shares of Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares during the last quarter. Institutional investors and hedge funds 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.