Constellation Brands (NYSE:STZ) Price Target Cut to $305.00

Constellation Brands (NYSE:STZ) had its price objective cut by equities researchers at BMO Capital Markets from $315.00 to $305.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 25.21% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Evercore ISI dropped their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

Shares of STZ stock opened at $243.60 on Tuesday. Constellation Brands has a 52 week low of $227.64 and a 52 week high of $274.87. 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 company has a 50 day moving average price of $246.51 and a 200-day moving average price of $251.83. The firm has a market capitalization of $44.57 billion, a PE ratio of 18.15, a P/E/G ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. As a group, equities research analysts expect that Constellation Brands will post 13.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,947 shares of company stock valued at $4,098,736 in the last 90 days. 12.19% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

A number of institutional investors and hedge funds have recently bought and sold shares of STZ. Secure Asset Management LLC raised its holdings in shares of Constellation Brands by 19.2% in the 3rd quarter. Secure Asset Management LLC now owns 6,344 shares of the company’s stock valued at $1,635,000 after purchasing an additional 1,022 shares in the last quarter. Compass Wealth Management LLC boosted its holdings in shares of Constellation Brands by 5.6% in the third quarter. Compass Wealth Management LLC now owns 37,839 shares of the company’s stock valued at $9,751,000 after acquiring an additional 2,022 shares during the period. nVerses Capital LLC grew its position in shares of Constellation Brands by 31.0% during the third quarter. nVerses Capital LLC now owns 3,800 shares of the company’s stock worth $979,000 after acquiring an additional 900 shares during the last quarter. FLC Capital Advisors acquired a new stake in Constellation Brands during the 3rd quarter worth $912,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of Constellation Brands by 21.8% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,081 shares of the company’s stock valued at $2,082,000 after buying an additional 1,445 shares during the last quarter. 77.34% of the stock is currently 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.