Barclays Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its target price reduced by Barclays from $300.00 to $282.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

STZ has been the topic of several other research reports. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price for the company. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $284.75.

Constellation Brands Trading Up 0.3 %

NYSE:STZ opened at $219.17 on Wednesday. The stock has a market cap of $39.79 billion, a PE ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock’s 50-day moving average is $233.17 and its two-hundred day moving average is $242.30. Constellation Brands has a fifty-two week low of $217.47 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.84%. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. Company insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the second quarter valued at about $36,000. Wellington Shields & Co. LLC boosted its position in shares of Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the period. Eastern Bank bought a new stake in shares of Constellation Brands in the third quarter valued at about $39,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Constellation Brands in the third quarter valued at about $42,000. 77.34% of the stock is 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.