Truist Financial Cuts Constellation Brands (NYSE:STZ) Price Target to $190.00

Constellation Brands (NYSE:STZ) had its price target trimmed by Truist Financial from $255.00 to $190.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, January 7th. Roth Mkm reissued a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Evercore ISI decreased their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday. TD Cowen cut their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley decreased their price objective on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Constellation Brands Price Performance

Shares of STZ stock opened at $184.66 on Tuesday. The stock’s fifty day simple moving average is $228.73 and its 200 day simple moving average is $239.85. Constellation Brands has a one year low of $176.51 and a one year high of $274.87. The firm has a market cap of $33.53 billion, a price-to-earnings ratio of 49.64, a P/E/G ratio of 1.28 and a beta of 0.91. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. During the same period in the previous year, the company posted $3.19 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect that Constellation Brands will post 13.72 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The shares were 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 directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,172 shares of company stock worth $16,778,841. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors have recently modified their holdings of STZ. Paloma Partners Management Co raised its holdings in Constellation Brands by 568.4% during the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after buying an additional 25,512 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Constellation Brands by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after acquiring an additional 2,980 shares during the period. Empowered Funds LLC raised its holdings in shares of Constellation Brands by 318.8% during the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after acquiring an additional 7,752 shares during the period. WealthPlan Investment Management LLC lifted its position in Constellation Brands by 29.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after acquiring an additional 6,867 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Constellation Brands in the 3rd quarter worth $2,132,000. 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.