Wells Fargo & Company Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

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

A number of other equities analysts have also issued reports on the company. BNP Paribas initiated coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Truist Financial reduced their price objective 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. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, 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. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $289.16.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $240.85 on Tuesday. The company has a market capitalization of $43.73 billion, a PE ratio of 77.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. Constellation Brands has a 52 week low of $224.76 and a 52 week high of $274.87. The stock’s fifty day moving average is $241.72 and its two-hundred day moving average is $246.80. 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 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. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last quarter. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors have recently made changes to their positions in STZ. B. Riley Wealth Advisors Inc. grew its holdings in Constellation Brands by 12.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,105 shares of the company’s stock worth $2,288,000 after buying an additional 974 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Constellation Brands by 51.5% in the 1st quarter. Tidal Investments LLC now owns 14,557 shares of the company’s stock valued at $3,957,000 after purchasing an additional 4,949 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of Constellation Brands in the first quarter worth approximately $282,000. Comerica Bank boosted its stake in Constellation Brands by 1.9% in the 1st quarter. Comerica Bank now owns 73,602 shares of the company’s stock worth $20,002,000 after purchasing an additional 1,368 shares during the period. Finally, iA Global Asset Management Inc. raised its stake in Constellation Brands by 23.8% during the 1st quarter. iA Global Asset Management Inc. now owns 31,700 shares of the company’s stock valued at $8,615,000 after purchasing an additional 6,088 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Company Profile

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.