Constellation Brands (NYSE:STZ) Shares Gap Down After Analyst Downgrade

Constellation Brands, Inc. (NYSE:STZ) shares gapped down prior to trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $300.00 to $295.00. The stock had previously closed at $241.67, but opened at $232.83. Wells Fargo & Company currently has an overweight rating on the stock. Constellation Brands shares last traded at $232.64, with a volume of 402,343 shares traded.

STZ has been the subject of a number of other research reports. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Barclays cut their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, November 19th. BMO Capital Markets cut their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Evercore ISI cut their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred 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 sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Institutional Trading of Constellation Brands

A number of large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB increased its stake in Constellation Brands by 260.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 20,495 shares of the company’s stock worth $5,281,000 after acquiring an additional 14,813 shares during the last quarter. Arvest Bank Trust Division purchased a new position in shares of Constellation Brands in the 3rd quarter worth approximately $243,000. World Investment Advisors LLC boosted its holdings in shares of Constellation Brands by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 2,550 shares of the company’s stock worth $657,000 after purchasing an additional 683 shares during the period. Hohimer Wealth Management LLC boosted its holdings in shares of Constellation Brands by 3.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 4,239 shares of the company’s stock worth $1,092,000 after purchasing an additional 126 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new position in shares of Constellation Brands in the 3rd quarter worth approximately $928,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 3.7 %

The stock has a market cap of $42.24 billion, a PE ratio of 78.21, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a fifty day moving average price of $242.80 and a 200 day moving average price of $247.27.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.70 EPS. Equities analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is currently 130.74%.

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.