Constellation Brands (NYSE:STZ) Shares Gap Down – What’s Next?

Constellation Brands, Inc. (NYSE:STZ)’s share price gapped down before the market opened on Friday . The stock had previously closed at $222.57, but opened at $217.80. Constellation Brands shares last traded at $218.68, with a volume of 289,237 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, November 19th. Finally, Bank of America restated a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Constellation Brands Stock Down 0.3 %

The firm has a market cap of $40.29 billion, a P/E ratio of 71.82, a P/E/G ratio of 1.69 and a beta of 1.75. The business’s fifty day moving average price is $234.13 and its two-hundred day moving average price is $243.35. 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 announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, 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 sold 189,956 shares of company stock valued at $46,058,091 over the last 90 days. 12.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently modified their holdings of STZ. State Street Corp raised its stake in Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares during the last quarter. Legal & General Group Plc raised its position in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

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.