Constellation Brands (NYSE:STZ – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
Several other equities analysts have also issued reports on STZ. Bank of America reiterated a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. TD Cowen lowered their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Tuesday, January 7th. Finally, BNP Paribas started coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $257.14.
Read Our Latest Stock Analysis on Constellation Brands
Constellation Brands Stock Down 0.4 %
Constellation Brands (NYSE:STZ – Get Free Report) last announced 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). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. As a group, analysts forecast that Constellation Brands will post 13.52 earnings per share for the current fiscal year.
Insider Buying and Selling at Constellation Brands
In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. This 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 61,746 shares of company stock worth $15,017,097 in the last three months. 12.19% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Constellation Brands
Hedge funds have recently modified their holdings of the company. Public Sector Pension Investment Board raised its holdings in Constellation Brands by 78.3% during the second quarter. Public Sector Pension Investment Board now owns 5,704 shares of the company’s stock valued at $1,468,000 after acquiring an additional 2,504 shares during the period. AXA S.A. grew its position in shares of Constellation Brands by 54.2% during the second quarter. AXA S.A. now owns 2,146 shares of the company’s stock worth $552,000 after purchasing an additional 754 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Constellation Brands during the 2nd quarter valued at approximately $1,106,000. Creative Planning lifted its holdings in Constellation Brands by 2.2% in the 2nd quarter. Creative Planning now owns 53,487 shares of the company’s stock worth $13,761,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in Constellation Brands by 55.1% during the 2nd quarter. Truist Financial Corp now owns 56,904 shares of the company’s stock valued at $14,640,000 after buying an additional 20,209 shares in 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.
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