Wells Fargo & Company Cuts Constellation Brands (NYSE:STZ) Price Target to $295.00

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

Several other equities research analysts also recently commented on the stock. Morgan Stanley reduced their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. BMO Capital Markets decreased their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. BNP Paribas initiated coverage on Constellation Brands in a research report on Monday. They set a “neutral” rating and a $261.00 price target on the stock. Truist Financial decreased their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. 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, November 19th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

Constellation Brands Stock Performance

Shares of STZ opened at $235.97 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm’s 50 day moving average is $241.87 and its 200-day moving average is $246.92. Constellation Brands has a 12-month low of $224.76 and a 12-month high of $274.87. The stock has a market capitalization of $42.84 billion, a P/E ratio of 76.37, a P/E/G ratio of 1.71 and a beta of 0.90.

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

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.71%. Constellation Brands’s dividend payout ratio is 130.74%.

Insider Buying and Selling

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 1,736,884 shares in the company, 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 available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Institutional investors have recently made changes to their positions in the business. New Millennium Group LLC bought a new position in Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the 2nd quarter valued at $32,000. LRI Investments LLC bought a new stake in Constellation Brands in the first quarter valued at $37,000. Finally, Opal Wealth Advisors LLC acquired a new position in Constellation Brands during the second quarter worth $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.