Needham & Company LLC Lowers Constellation Brands (NYSE:STZ) Price Target to $215.00

Constellation Brands (NYSE:STZ) had its target price lowered by equities researchers at Needham & Company LLC from $240.00 to $215.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 16.82% from the company’s previous close.

STZ has been the topic of a number of other reports. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup downgraded shares of Constellation Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. Royal Bank of Canada decreased their price objective on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, TD Cowen cut their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Hold” and a consensus price target of $249.27.

Constellation Brands Trading Up 3.2 %

Constellation Brands stock opened at $184.05 on Thursday. Constellation Brands has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $33.26 billion, a price-to-earnings ratio of 49.48, a PEG ratio of 1.52 and a beta of 0.90. The firm has a 50-day moving average price of $177.20 and a two-hundred day moving average price of $215.67.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the firm posted $3.19 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts expect that Constellation Brands will post 13.5 earnings per share for the current year.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.19% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

A number of hedge funds have recently made changes to their positions in STZ. Thrivent Financial for Lutherans boosted its stake in shares of Constellation Brands by 13.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock valued at $1,892,000 after buying an additional 845 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Constellation Brands during the third quarter worth $60,000. Glenmede Trust Co. NA boosted its position in Constellation Brands by 16.5% during the third quarter. Glenmede Trust Co. NA now owns 3,908 shares of the company’s stock valued at $1,007,000 after purchasing an additional 554 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Constellation Brands in the third quarter valued at about $565,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Constellation Brands by 12.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,025 shares of the company’s stock worth $20,622,000 after purchasing an additional 9,154 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.