TD Cowen Cuts Constellation Brands (NYSE:STZ) Price Target to $260.00

Constellation Brands (NYSE:STZ) had its price target cut by TD Cowen from $270.00 to $260.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also issued reports on STZ. Barclays dropped their target price on shares of Constellation Brands from $300.00 to $282.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating for the company in a research note on Tuesday. Truist Financial lowered their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Constellation Brands in a research report on Friday, December 20th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $284.75.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $181.57 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market capitalization of $32.97 billion, a P/E ratio of 58.76, a P/E/G ratio of 1.69 and a beta of 1.75. The business has a 50-day moving average of $231.88 and a two-hundred day moving average of $241.56. Constellation Brands has a fifty-two week low of $179.55 and a fifty-two week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $3.19 earnings per share. On average, equities research analysts predict that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is 130.74%.

Insider Buying and Selling

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,956 shares of company stock worth $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC increased its position in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the period. State Street Corp lifted its holdings in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares during the period. Dimensional Fund Advisors LP increased its stake in Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after acquiring an additional 241,982 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after purchasing an additional 147,457 shares in the last quarter. Finally, NFJ Investment Group LLC lifted its stake in Constellation Brands by 617.3% during the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after purchasing an additional 93,273 shares during the last quarter. 77.34% of the stock is currently 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.