Constellation Brands (NYSE:STZ) Price Target Lowered to $245.00 at Piper Sandler

Constellation Brands (NYSE:STZ) had its price objective trimmed by Piper Sandler from $300.00 to $245.00 in a research note published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Barclays reduced their price target on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday. Evercore ISI decreased 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 report on Friday, October 4th. Finally, Truist Financial dropped their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $268.05.

Constellation Brands Stock Performance

Shares of STZ stock opened at $185.84 on Monday. The stock has a market cap of $33.74 billion, a PE ratio of 60.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock has a 50-day moving average of $230.80 and a 200-day moving average of $240.79. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands has a one year low of $176.51 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share 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 company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the company earned $3.19 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

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

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,446 shares of company stock valued at $45,687,281 over the last 90 days. 12.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STZ. Paloma Partners Management Co lifted its stake in shares of Constellation Brands by 568.4% in the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $7,731,000 after acquiring an additional 25,512 shares during the last quarter. Empowered Funds LLC raised its position in Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after purchasing an additional 7,752 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Constellation Brands by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock valued at $21,699,000 after purchasing an additional 2,980 shares in the last quarter. WealthPlan Investment Management LLC grew its holdings in shares of Constellation Brands by 29.5% during the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Constellation Brands in the third quarter valued at approximately $2,132,000. 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.