Evercore ISI Lowers Constellation Brands (NYSE:STZ) Price Target to $250.00

Constellation Brands (NYSE:STZ) had its price objective dropped by equities research analysts at Evercore ISI from $300.00 to $250.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 37.23% from the company’s current price.

Several other brokerages have also recently issued reports on STZ. Wells Fargo & Company dropped their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley dropped their price objective on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a report on Monday. Bank of America reaffirmed a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Piper Sandler dropped their price target on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday. Finally, BNP Paribas started coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $261.40.

Constellation Brands Stock Performance

NYSE:STZ opened at $182.18 on Monday. The company has a market cap of $33.08 billion, a P/E ratio of 58.96, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands has a twelve month low of $176.51 and a twelve month high of $274.87. The company’s 50-day moving average price is $229.71 and its 200-day moving average price is $240.26. 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 released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion during 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 company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the business earned $3.19 earnings per share. On average, sell-side analysts forecast that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’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 value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,172 shares of company stock valued at $16,778,841 in the last 90 days. Company insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in 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 valued at $128,765,000 after buying an additional 497,543 shares in the last quarter. State Street Corp increased its holdings in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake 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 worth $81,762,000 after purchasing an additional 147,457 shares during the last quarter. Finally, NFJ Investment Group LLC boosted its holdings in Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after purchasing an additional 93,273 shares in the last quarter. Institutional investors and hedge funds 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.