Wells Fargo & Company Lowers Constellation Brands (NYSE:STZ) Price Target to $210.00

Constellation Brands (NYSE:STZ) had its price target reduced by research analysts at Wells Fargo & Company from $230.00 to $210.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 15.23% from the stock’s previous close.

A number of other research firms have also weighed in on STZ. Royal Bank of Canada dropped their target price 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. Needham & Company LLC reduced their price target on Constellation Brands from $240.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. UBS Group lowered their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $220.00 to $202.00 in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $246.23.

Constellation Brands Trading Down 0.3 %

Shares of STZ traded down $0.48 during mid-day trading on Wednesday, reaching $182.25. 1,302,531 shares of the company were exchanged, compared to its average volume of 2,771,103. Constellation Brands has a 52 week low of $160.46 and a 52 week high of $274.87. The stock has a market capitalization of $32.94 billion, a PE ratio of 48.99, a PEG ratio of 1.52 and a beta of 1.75. The business has a 50 day simple moving average of $177.29 and a two-hundred day simple moving average of $213.33. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last released its 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). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. On average, analysts predict that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several hedge funds have recently modified their holdings of STZ. Public Sector Pension Investment Board lifted its stake in Constellation Brands by 3.5% in the third quarter. Public Sector Pension Investment Board now owns 5,904 shares of the company’s stock worth $1,521,000 after acquiring an additional 200 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Constellation Brands by 206.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,763 shares of the company’s stock worth $1,228,000 after acquiring an additional 3,209 shares in the last quarter. Hilltop Holdings Inc. purchased a new position in shares of Constellation Brands in the 3rd quarter valued at about $205,000. HighTower Advisors LLC raised its position in shares of Constellation Brands by 3.5% during the 3rd quarter. HighTower Advisors LLC now owns 237,688 shares of the company’s stock worth $61,313,000 after acquiring an additional 8,137 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in Constellation Brands by 45.3% during the third quarter. Investment Management Corp of Ontario now owns 5,455 shares of the company’s stock worth $1,406,000 after purchasing an additional 1,700 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.