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

Constellation Brands (NYSE:STZ) had its price objective reduced by equities research analysts at Barclays from $282.00 to $214.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 18.35% from the stock’s current price.

Several other brokerages have also commented on STZ. BMO Capital Markets dropped their price target 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research report on Monday. Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, January 7th. Finally, Truist Financial reduced their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Constellation Brands Price Performance

Constellation Brands stock opened at $180.82 on Tuesday. 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 fifty day simple moving average of $229.71 and a 200-day simple moving average of $240.26. The stock has a market cap of $32.83 billion, a P/E ratio of 58.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. Constellation Brands has a 12-month low of $176.51 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock valued at $16,778,841 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors have recently made changes to their positions in STZ. Acadian Asset Management LLC lifted its stake in shares of Constellation Brands by 494.8% in 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 period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $36,000. Oppenheimer & Co. Inc. boosted 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 worth $2,439,000 after acquiring an additional 1,096 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of 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 acquiring an additional 3,613 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Constellation Brands by 5.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,567 shares of the company’s stock valued at $1,947,000 after purchasing an additional 359 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

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.