Morgan Stanley Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target cut by analysts at Morgan Stanley from $280.00 to $220.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 20.76% from the stock’s current price.

STZ has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays reduced their price target on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets decreased their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Truist Financial cut their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $261.40.

Constellation Brands Stock Performance

STZ stock opened at $182.18 on Monday. The firm has a 50 day simple moving average of $229.71 and a 200 day simple moving average of $240.26. Constellation Brands has a 52 week low of $176.51 and a 52 week high of $274.87. The stock has a market cap of $33.08 billion, a P/E ratio of 58.96, a P/E/G 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.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (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 company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the business earned $3.19 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Research analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. 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 quarter. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of large investors have recently bought and sold shares of STZ. Oakworth Capital Inc. lifted its holdings in shares of Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after acquiring an additional 42 shares during the period. PFG Investments LLC lifted its holdings in Constellation Brands by 3.8% during the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after purchasing an additional 42 shares during the last quarter. Brighton Jones LLC lifted its holdings in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares during the last quarter. Metis Global Partners LLC boosted its position in Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after buying an additional 46 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in Constellation Brands by 6.2% during the third quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock worth $221,000 after buying an additional 50 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

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.