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

Constellation Brands (NYSE:STZ) had its price objective decreased by Piper Sandler from $300.00 to $245.00 in a research report report published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on STZ. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Tuesday, January 7th. BMO Capital Markets dropped their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Jefferies Financial Group restated a “hold” rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 price target on shares of Constellation Brands in a report on Friday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.05.

Constellation Brands Trading Up 2.2 %

NYSE STZ opened at $185.84 on Monday. Constellation Brands has a 12 month low of $176.51 and a 12 month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $33.74 billion, a PE ratio of 60.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The business’s 50-day moving average price is $230.80 and its two-hundred day moving average price is $240.79.

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). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the company posted $3.19 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect that Constellation Brands will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced 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 2.17%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Buying and Selling

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were 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 of the company’s stock, valued at $1,771,800.92. This represents 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 188,446 shares of company stock worth $45,687,281. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Several hedge funds have recently made changes to their positions in STZ. Acadian Asset Management LLC lifted its holdings in Constellation Brands by 494.8% during the second quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock valued at $973,000 after purchasing an additional 3,152 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the second quarter valued at approximately $36,000. Oppenheimer & Co. Inc. lifted its stake in shares of Constellation Brands by 13.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 9,481 shares of the company’s stock valued at $2,439,000 after buying an additional 1,096 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Constellation Brands by 13.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 30,998 shares of the company’s stock worth $7,940,000 after buying an additional 3,613 shares during the period. Finally, Dai ichi Life Insurance Company Ltd grew its stake in Constellation Brands by 40.8% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 10,636 shares of the company’s stock valued at $2,736,000 after buying an additional 3,080 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

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.