Constellation Brands (NYSE:STZ) Price Target Cut to $255.00

Constellation Brands (NYSE:STZ) had its target price decreased by Truist Financial from $265.00 to $255.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 3.38% from the company’s previous close.

Several other equities analysts have also commented on STZ. Barclays increased their price objective on shares of Constellation Brands from $295.00 to $309.00 and gave the company an “overweight” rating in a research report on Tuesday, September 24th. Evercore ISI lowered their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Friday. Finally, Roth Mkm dropped their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $295.75.

Constellation Brands Trading Up 1.2 %

Shares of Constellation Brands stock opened at $246.67 on Friday. Constellation Brands has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $246.53 and a 200-day moving average price of $253.39. The firm has a market cap of $45.13 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. Equities research analysts anticipate that Constellation Brands will post 13.53 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value 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 approximately $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirador Capital Partners LP lifted its position in shares of Constellation Brands by 6.0% in the 3rd quarter. Mirador Capital Partners LP now owns 5,429 shares of the company’s stock worth $1,399,000 after purchasing an additional 308 shares during the period. Park Avenue Securities LLC raised its stake in Constellation Brands by 23.3% in the third quarter. Park Avenue Securities LLC now owns 4,362 shares of the company’s stock worth $1,124,000 after buying an additional 824 shares in the last quarter. Czech National Bank lifted its holdings in Constellation Brands by 4.0% during the third quarter. Czech National Bank now owns 31,918 shares of the company’s stock worth $8,225,000 after buying an additional 1,239 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Constellation Brands by 5.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 52,589 shares of the company’s stock valued at $13,552,000 after acquiring an additional 2,620 shares in the last quarter. Finally, Weybosset Research & Management LLC increased its holdings in shares of Constellation Brands by 12.1% in the 3rd quarter. Weybosset Research & Management LLC now owns 925 shares of the company’s stock valued at $238,000 after acquiring an additional 100 shares during the period. 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.