Constellation Brands (NYSE:STZ) Price Target Lowered to $215.00 at Needham & Company LLC

Constellation Brands (NYSE:STZ) had its price objective reduced by Needham & Company LLC from $240.00 to $215.00 in a report released on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on STZ. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Truist Financial cut their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Roth Capital lowered their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. Barclays cut their price target on Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $249.18.

Constellation Brands Price Performance

Constellation Brands stock opened at $184.35 on Thursday. The stock’s fifty day moving average price is $177.20 and its two-hundred day moving average price is $215.45. The firm has a market cap of $33.32 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands has a one year low of $160.46 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 earnings per share. As a group, research analysts expect that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of large investors have recently bought and sold shares of STZ. Mainstream Capital Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Constellation Brands in the 4th quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands in the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the 4th quarter valued at $28,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth $29,000. 77.34% of the stock is owned by hedge funds and other 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.