Roth Mkm Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its target price lowered by analysts at Roth Mkm from $284.00 to $256.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price target would suggest a potential upside of 47.31% from the company’s current price.

Other equities analysts have also issued reports about the company. Truist Financial reduced their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Barclays cut their price objective on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Finally, Needham & Company LLC cut their price target on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $244.32.

Constellation Brands Stock Performance

Shares of STZ opened at $173.79 on Thursday. Constellation Brands has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The company has a market cap of $31.41 billion, a PE ratio of 46.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The stock has a 50-day moving average price of $177.14 and a 200-day moving average price of $212.55.

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

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Large investors have recently made changes to their positions in the business. Public Sector Pension Investment Board boosted its holdings in Constellation Brands by 3.5% in the third quarter. Public Sector Pension Investment Board now owns 5,904 shares of the company’s stock worth $1,521,000 after acquiring an additional 200 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Constellation Brands by 206.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,763 shares of the company’s stock worth $1,228,000 after purchasing an additional 3,209 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Constellation Brands during the third quarter valued at approximately $205,000. Investment Management Corp of Ontario increased its position in shares of Constellation Brands by 45.3% during the third quarter. Investment Management Corp of Ontario now owns 5,455 shares of the company’s stock valued at $1,406,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC raised its holdings in Constellation Brands by 48.4% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 2,759 shares of the company’s stock worth $711,000 after acquiring an additional 900 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other 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.