Constellation Brands (NYSE:STZ) Cut to Neutral at Piper Sandler

Constellation Brands (NYSE:STZ) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $200.00 price target on the stock, down from their previous price target of $245.00. Piper Sandler’s price objective indicates a potential upside of 15.80% from the stock’s current price.

STZ has been the topic of a number of other research reports. Bank of America reiterated a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. TD Cowen reduced their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Morgan Stanley lowered their price target on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Barclays dropped their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Constellation Brands Stock Down 1.0 %

Shares of NYSE:STZ opened at $172.72 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a fifty day simple moving average of $214.07 and a two-hundred day simple moving average of $233.24. Constellation Brands has a 12-month low of $166.02 and a 12-month high of $274.87. The stock has a market capitalization of $31.22 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.59 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted 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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the firm earned $3.19 EPS. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. On average, research analysts anticipate that Constellation Brands will post 13.52 earnings per share for the current fiscal year.

Insider Transactions at Constellation Brands

In related news, 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 value of $159,060.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $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. Insiders have sold 61,746 shares of company stock valued at $15,017,097 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oakworth Capital Inc. raised its position in shares of Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after buying an additional 42 shares during the last quarter. PFG Investments LLC increased its holdings in Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after acquiring an additional 42 shares during the last quarter. Metis Global Partners LLC lifted its stake in Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after purchasing an additional 46 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Constellation Brands by 6.2% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock worth $221,000 after purchasing an additional 50 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL grew its position in shares of Constellation Brands by 4.6% during the third quarter. Strategic Investment Solutions Inc. IL now owns 1,158 shares of the company’s stock valued at $298,000 after purchasing an additional 51 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.