Constellation Brands (NYSE:STZ) Lowered to “Neutral” Rating by Piper Sandler

Constellation Brands (NYSE:STZ) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Monday,Briefing.com Automated Import reports. They currently have a $200.00 price objective on the stock, down from their previous price objective of $245.00. Piper Sandler’s price objective points to a potential upside of 10.58% from the company’s current price.

A number of other brokerages have also issued reports on STZ. Wells Fargo & Company dropped their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Barclays reduced their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Roth Capital reduced their price target on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, BMO Capital Markets decreased their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $180.87 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands has a one year low of $176.51 and a one year high of $274.87. The company has a 50-day simple moving average of $215.42 and a 200-day simple moving average of $233.86. The stock has a market capitalization of $32.69 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.59 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the business posted $3.19 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, analysts predict that Constellation Brands will post 13.52 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the business’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 transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,746 shares of company stock valued at $15,017,097. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of institutional investors have recently added to or reduced their stakes in STZ. State Street Corp raised its stake in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. Van ECK Associates Corp raised its position in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of Constellation Brands by 13.6% during the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock worth $98,374,000 after buying an additional 45,707 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.