Constellation Brands (NYSE:STZ) Price Target Cut to $250.00 by Analysts at Evercore ISI

Constellation Brands (NYSE:STZ) had its price target trimmed by Evercore ISI from $300.00 to $250.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

STZ has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $280.00 price target on shares of Constellation Brands in a report on Friday. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a report on Monday. Piper Sandler lowered their price target on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.05.

Constellation Brands Price Performance

Constellation Brands stock opened at $185.84 on Monday. The firm has a market capitalization of $33.74 billion, a PE ratio of 60.14, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands has a 52 week low of $176.51 and a 52 week high of $274.87. The firm’s 50-day simple moving average is $230.80 and its 200 day simple moving average is $240.79. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the company earned $3.19 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.17%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,446 shares of company stock worth $45,687,281 in the last three months. 12.19% of the stock is currently owned by company insiders.

Institutional Trading of Constellation Brands

A number of hedge funds have recently made changes to their positions in STZ. Oakworth Capital Inc. grew its holdings in Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after purchasing an additional 42 shares in the last quarter. PFG Investments LLC grew its stake in shares of Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after acquiring an additional 42 shares in the last quarter. Brighton Jones LLC increased its position in shares of Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after acquiring an additional 43 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after acquiring an additional 46 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in Constellation Brands by 6.2% in the third quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock valued at $221,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors 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.