Truist Financial Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective reduced by equities research analysts at Truist Financial from $255.00 to $190.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 4.16% from the stock’s previous close.

A number of other research firms have also weighed in on STZ. Jefferies Financial Group reiterated a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler decreased their price target on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday. Evercore ISI lowered their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Barclays decreased their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Constellation Brands Stock Down 1.9 %

STZ stock traded down $3.50 during midday trading on Tuesday, hitting $182.41. The company’s stock had a trading volume of 209,663 shares, compared to its average volume of 2,863,355. Constellation Brands has a 12 month low of $176.51 and a 12 month high of $274.87. The firm’s 50-day moving average is $230.80 and its 200-day moving average is $240.79. 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 company has a market cap of $33.12 billion, a PE ratio of 59.03, a P/E/G ratio of 1.69 and a beta of 1.75.

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 the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the firm posted $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Insider Activity at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the 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 in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,446 shares of company stock valued at $45,687,281 in the last three months. 12.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in STZ. Versant Capital Management Inc grew its position in Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands during the 2nd quarter worth $36,000. Eastern Bank purchased a new position in shares of Constellation Brands during the 3rd quarter worth $39,000. FSA Wealth Management LLC acquired a new stake in shares of Constellation Brands during the 3rd quarter worth about $42,000. Finally, Truvestments Capital LLC purchased a new stake in Constellation Brands in the 3rd quarter valued at about $60,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.