Constellation Brands (NYSE:STZ) Coverage Initiated at BNP Paribas

Investment analysts at BNP Paribas began coverage on shares of Constellation Brands (NYSE:STZ) in a report issued on Monday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $261.00 price target on the stock. BNP Paribas’ price objective indicates a potential upside of 11.69% from the company’s current price.

Other analysts have also issued research reports about the stock. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Evercore ISI cut their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. UBS Group cut their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Truist Financial cut their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Finally, Roth Mkm reiterated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $289.16.

Constellation Brands Trading Down 3.3 %

NYSE STZ opened at $233.68 on Monday. The company has a fifty day simple moving average of $242.42 and a two-hundred day simple moving average of $247.08. The stock has a market cap of $42.43 billion, a P/E ratio of 75.62, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands has a 12-month low of $224.76 and a 12-month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $3.70 earnings per share. On average, analysts forecast that Constellation Brands will post 13.57 earnings per share for the current year.

Insider Buying and Selling at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock worth $46,058,091 over the last three months. Insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB lifted its position in shares of Constellation Brands by 260.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 20,495 shares of the company’s stock worth $5,281,000 after buying an additional 14,813 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in Constellation Brands in the 3rd quarter valued at $243,000. World Investment Advisors LLC raised its position in Constellation Brands by 36.6% during the 3rd quarter. World Investment Advisors LLC now owns 2,550 shares of the company’s stock worth $657,000 after buying an additional 683 shares during the last quarter. Hohimer Wealth Management LLC raised its position in Constellation Brands by 3.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 4,239 shares of the company’s stock worth $1,092,000 after buying an additional 126 shares during the last quarter. Finally, Rehmann Capital Advisory Group purchased a new position in Constellation Brands during the 3rd quarter worth $928,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.