Constellation Brands (NYSE:STZ) Price Target Cut to $295.00 by Analysts at Wells Fargo & Company

Constellation Brands (NYSE:STZ) had its price target cut by Wells Fargo & Company from $300.00 to $295.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently weighed in on STZ. Barclays lowered their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Morgan Stanley dropped their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, Truist Financial reduced their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands Stock Down 3.3 %

NYSE:STZ opened at $233.68 on Tuesday. The stock has a 50-day simple moving average of $242.42 and a 200 day simple moving average of $247.08. Constellation Brands has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a market cap of $42.43 billion, a PE ratio of 75.62, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 EPS. On average, sell-side analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was 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 of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 over the last three months. 12.19% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Constellation Brands in the second quarter valued at about $119,394,000. State Street Corp boosted its stake in shares of Constellation Brands by 6.0% during the third 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 in the last quarter. Boston Partners grew its holdings in shares of Constellation Brands by 50.9% during the first quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after purchasing an additional 328,881 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 241,982 shares during the period. Institutional investors 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.