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

Constellation Brands (NYSE:STZ) had its price objective trimmed by Wells Fargo & Company from $300.00 to $295.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on STZ. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. BNP Paribas initiated coverage on Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price for the company. Morgan Stanley lowered their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Finally, Barclays lowered their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands Trading Up 2.1 %

STZ stock opened at $240.85 on Tuesday. The business’s 50 day moving average is $241.72 and its 200-day moving average is $246.80. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands has a 1-year low of $224.76 and a 1-year high of $274.87. The firm has a market cap of $43.73 billion, a P/E ratio of 77.94, a P/E/G ratio of 1.67 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) 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 business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the firm posted $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated Wednesday, November 20th. The stock was 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 approximately $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on 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 owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC purchased a new position in Constellation Brands in the 2nd quarter worth approximately $119,394,000. Empowered Funds LLC raised its holdings in Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after purchasing an additional 7,752 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in Constellation Brands during the third quarter valued at $2,132,000. WealthPlan Investment Management LLC increased its position in 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 in the last quarter. Finally, Swedbank AB bought a new position in shares of Constellation Brands in the first quarter worth about $561,000. 77.34% of the stock is 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.