Wells Fargo & Company Cuts Constellation Brands (NYSE:STZ) Price Target to $275.00

Constellation Brands (NYSE:STZ) had its target price trimmed by Wells Fargo & Company from $295.00 to $275.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Evercore ISI decreased their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, November 19th. BMO Capital Markets reduced their price objective 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. Finally, TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Stock Performance

Shares of STZ stock opened at $219.17 on Tuesday. The company’s 50 day moving average is $232.90 and its 200 day moving average is $242.14. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market cap of $39.79 billion, a price-to-earnings ratio of 70.93, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands has a 52-week low of $217.47 and a 52-week high of $274.87.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.84%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Activity

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated 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. The trade was a 23.30 % 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 in the last ninety days. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its stake in shares of Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the period. State Street Corp raised its position in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares in the last quarter. NFJ Investment Group LLC grew its position in shares of Constellation Brands by 617.3% during the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after acquiring an additional 93,273 shares during the period. Finally, World Investment Advisors LLC increased its stake in shares of Constellation Brands by 4,601.2% in the 3rd quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock valued at $22,618,000 after purchasing an additional 85,904 shares in the last quarter. Hedge funds and other institutional investors 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.