Wells Fargo & Company Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its target price reduced by Wells Fargo & Company from $300.00 to $295.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

STZ has been the topic of several other research reports. UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. BMO Capital Markets dropped their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $235.97 on Tuesday. The business has a fifty day moving average of $241.87 and a 200-day moving average of $246.92. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands has a twelve month low of $224.76 and a twelve month high of $274.87. The firm has a market cap of $42.84 billion, a PE ratio of 76.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90.

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

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Insider Transactions at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last ninety days. 12.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its position in shares of Constellation Brands by 12.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,105 shares of the company’s stock valued at $2,288,000 after acquiring an additional 974 shares during the period. Tidal Investments LLC grew its holdings in Constellation Brands by 51.5% during the first quarter. Tidal Investments LLC now owns 14,557 shares of the company’s stock worth $3,957,000 after purchasing an additional 4,949 shares during the period. Coppell Advisory Solutions Corp. acquired a new position in Constellation Brands during the first quarter worth approximately $282,000. Comerica Bank raised its stake in Constellation Brands by 1.9% in the first quarter. Comerica Bank now owns 73,602 shares of the company’s stock valued at $20,002,000 after buying an additional 1,368 shares during the period. Finally, iA Global Asset Management Inc. lifted its position in shares of Constellation Brands by 23.8% in the first quarter. iA Global Asset Management Inc. now owns 31,700 shares of the company’s stock valued at $8,615,000 after buying an additional 6,088 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

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.