Wells Fargo & Company Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective reduced by equities researchers at Wells Fargo & Company from $300.00 to $295.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 22.07% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, November 19th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. BNP Paribas began coverage on Constellation Brands in a research report on Monday. They set a “neutral” rating and a $261.00 target price on the stock. Finally, Bank of America reiterated a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Constellation Brands Stock Up 0.8 %

Shares of Constellation Brands stock opened at $241.67 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market cap of $43.88 billion, a price-to-earnings ratio of 78.21, a PEG ratio of 1.69 and a beta of 1.75. The firm’s 50-day moving average is $242.80 and its two-hundred day moving average is $247.27. Constellation Brands has a 1 year low of $224.76 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.70 earnings per share. As a group, research analysts expect that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at $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 available at 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 stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last ninety days. Company insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Institutional investors have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. grew its position in shares of Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after purchasing an additional 42 shares during the period. PFG Investments LLC lifted its stake in Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after buying an additional 42 shares in the last quarter. Brighton Jones LLC boosted its holdings in Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the last quarter. Burns Matteson Capital Management LLC increased its stake in Constellation Brands by 1.5% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company’s stock worth $749,000 after buying an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of Constellation Brands by 0.8% during the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.