Barclays Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its target price lowered by Barclays from $300.00 to $282.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on STZ. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $280.00 target price on shares of Constellation Brands in a research note on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday. Truist Financial dropped their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Finally, Evercore ISI dropped their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $284.75.

Constellation Brands Stock Down 17.2 %

Shares of NYSE STZ opened at $181.57 on Wednesday. Constellation Brands has a 52-week low of $179.55 and a 52-week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company’s 50-day simple moving average is $231.88 and its 200-day simple moving average is $241.56. The firm has a market cap of $32.97 billion, a price-to-earnings ratio of 58.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

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

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors have recently made changes to their positions in STZ. Jacobs & Co. CA grew its holdings in shares of Constellation Brands by 4.2% during the fourth quarter. Jacobs & Co. CA now owns 39,189 shares of the company’s stock worth $8,660,000 after buying an additional 1,564 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Constellation Brands by 66.3% in 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 during the period. Ables Iannone Moore & Associates Inc. increased its stake in Constellation Brands by 9.0% in the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock valued at $1,929,000 after purchasing an additional 718 shares during the last quarter. Doliver Advisors LP acquired a new position in Constellation Brands in the fourth quarter valued at $348,000. Finally, Nordea Investment Management AB boosted its stake in Constellation Brands by 10.7% in the 4th quarter. Nordea Investment Management AB now owns 164,505 shares of the company’s stock worth $36,446,000 after buying an additional 15,942 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

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.