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

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

Other analysts also recently issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Barclays reduced their price target on shares of Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Evercore ISI decreased their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $284.75.

Constellation Brands Price Performance

Shares of STZ opened at $181.57 on Wednesday. The business has a 50-day simple moving average of $231.88 and a two-hundred day simple moving average of $241.56. Constellation Brands has a 12-month low of $179.55 and a 12-month high of $274.87. The stock has a market cap of $32.97 billion, a PE ratio of 58.76, a PEG ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

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 the consensus estimate of $3.33 by ($0.08). The business 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%. Constellation Brands’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $3.19 EPS. Analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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

Insider Buying and Selling at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the business’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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

A number of institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the period. State Street Corp increased its holdings in 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 purchasing an additional 402,211 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 241,982 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 buying an additional 147,457 shares during the period. Finally, NFJ Investment Group LLC lifted its stake in Constellation Brands by 617.3% in the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after acquiring 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.