Wells Fargo & Company Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective lowered by investment analysts at Wells Fargo & Company from $230.00 to $210.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.93% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Evercore ISI decreased their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Needham & Company LLC decreased their target price on Constellation Brands from $240.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. TD Cowen lowered their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Hold” and an average target price of $244.32.

Constellation Brands Price Performance

STZ stock opened at $181.14 on Wednesday. The company has a market cap of $32.74 billion, a PE ratio of 48.69, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. 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 stock has a 50-day moving average price of $177.33 and a two-hundred day moving average price of $213.11. Constellation Brands has a 12-month low of $160.46 and a 12-month high of $274.87.

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

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Berkshire Hathaway Inc bought a new position in Constellation Brands in the fourth quarter worth about $1,242,976,000. Norges Bank acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. raised its position in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. D1 Capital Partners L.P. lifted its holdings in shares of Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after purchasing an additional 994,639 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

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.