StockNews.com Downgrades Constellation Brands (NYSE:STZ) to Sell

StockNews.com cut shares of Constellation Brands (NYSE:STZ) from a hold rating to a sell rating in a research report report published on Tuesday.

Other analysts have also issued research reports about the stock. Piper Sandler lowered their target price on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Roth Capital dropped their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.14.

Constellation Brands Stock Down 2.5 %

NYSE:STZ opened at $183.16 on Tuesday. The company has a market cap of $33.10 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 1.58 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock’s fifty day moving average price is $220.02 and its two-hundred day moving average price is $235.70. Constellation Brands has a 52-week low of $176.51 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts anticipate that Constellation Brands will post 13.52 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.21%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Activity

In other news, Director William T. Giles acquired 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed 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 dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following 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 valued at $15,017,097 in the last quarter. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the period. Janus Henderson Group PLC increased its holdings in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares during the period. International Assets Investment Management LLC increased its holdings in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. National Pension Service raised its position in shares of Constellation Brands by 13.6% in the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after buying an additional 45,707 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Constellation Brands by 66.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after acquiring an additional 147,457 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.