TD Cowen Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective reduced by TD Cowen from $270.00 to $260.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential upside of 18.63% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a research report on Friday, December 20th. Truist Financial cut their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. BMO Capital Markets decreased their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. Finally, Evercore ISI reduced their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $284.75.

Constellation Brands Stock Performance

STZ stock opened at $219.17 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands has a 1 year low of $217.47 and a 1 year high of $274.87. The company has a market cap of $39.79 billion, a P/E ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock’s fifty day moving average price is $232.90 and its 200-day moving average price is $242.14.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of STZ. Oakworth Capital Inc. raised its stake in Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after purchasing an additional 42 shares in the last quarter. PFG Investments LLC increased its holdings in shares of Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after buying an additional 42 shares during the last quarter. Brighton Jones LLC raised its position in shares of Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after buying an additional 43 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after acquiring an additional 46 shares during the last quarter. Finally, Wellington Shields & Co. LLC grew its position in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

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.