Evercore ISI Cuts Constellation Brands (NYSE:STZ) Price Target to $250.00

Constellation Brands (NYSE:STZ) had its price target reduced by Evercore ISI from $300.00 to $250.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a report on Monday. Barclays cut their price target on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Piper Sandler decreased their price objective on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley dropped their target price on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America reiterated a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Constellation Brands Trading Down 0.8 %

Shares of STZ opened at $180.82 on Monday. Constellation Brands has a 1-year low of $176.51 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a 50 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 price-to-earnings ratio of 58.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results 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). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $3.19 earnings per share. Equities analysts forecast that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.23%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,172 shares of company stock worth $16,778,841. Corporate insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paloma Partners Management Co lifted its stake in shares of Constellation Brands by 568.4% in the third quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after acquiring an additional 25,512 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Constellation Brands by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after buying an additional 2,980 shares in the last quarter. WealthPlan Investment Management LLC increased its stake in shares of Constellation Brands by 29.5% in the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after buying an additional 6,867 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Constellation Brands in the third quarter valued at $2,132,000. 77.34% of the stock is owned by hedge funds and other 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.