Constellation Brands (NYSE:STZ) Price Target Cut to $255.00 by Analysts at Truist Financial

Constellation Brands (NYSE:STZ) had its price objective decreased by analysts at Truist Financial from $265.00 to $255.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 3.44% from the company’s current price.

Other analysts have also issued research reports about the company. Barclays upped their target price on Constellation Brands from $295.00 to $309.00 and gave the stock an “overweight” rating in a report on Tuesday, September 24th. Roth Mkm lowered their price target on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group boosted their price target on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Evercore ISI lowered their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.63.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $246.52 on Friday. Constellation Brands has a one year low of $227.50 and a one year high of $274.87. The firm has a market cap of $45.11 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock’s 50-day moving average is $246.67 and its 200-day moving average is $253.64.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.21. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. Equities analysts predict that Constellation Brands will post 13.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 over the last three months. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands during the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the 2nd quarter worth about $32,000. YHB Investment Advisors Inc. acquired a new stake in Constellation Brands during the 1st quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands during the 4th quarter worth about $35,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.