Morgan Stanley Cuts Constellation Brands (NYSE:STZ) Price Target to $220.00

Constellation Brands (NYSE:STZ) had its target price reduced by Morgan Stanley from $280.00 to $220.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. Bank of America reiterated a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Evercore ISI dropped their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, BMO Capital Markets decreased their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $261.40.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $180.82 on Monday. Constellation Brands has a 1-year low of $176.51 and a 1-year high of $274.87. The firm’s 50-day moving average price is $229.71 and its two-hundred day moving average price is $240.26. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 58.52, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly 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). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the business earned $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts predict that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insiders Place Their Bets

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated 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 $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,172 shares of company stock worth $16,778,841. Company insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of 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 purchasing an additional 21,454 shares during the period. Legal & General Group Plc lifted its holdings in shares of Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares in 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.