Constellation Brands (NYSE:STZ) Coverage Initiated at BNP Paribas

Research analysts at BNP Paribas began coverage on shares of Constellation Brands (NYSE:STZ) in a report issued on Monday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $261.00 price target on the stock. BNP Paribas’ target price points to a potential upside of 8.90% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $288.83.

Constellation Brands Stock Down 0.5 %

STZ stock opened at $239.66 on Monday. The stock has a market capitalization of $43.51 billion, a P/E ratio of 77.56, a P/E/G ratio of 1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands has a 1-year low of $224.76 and a 1-year high of $274.87. The business has a fifty day moving average price of $243.04 and a 200-day moving average price of $247.41.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were 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 in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Hohimer Wealth Management LLC lifted its stake in shares of Constellation Brands by 3.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 4,239 shares of the company’s stock valued at $1,092,000 after purchasing an additional 126 shares in the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Constellation Brands in the third quarter worth $928,000. TD Private Client Wealth LLC raised its stake in shares of Constellation Brands by 29.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,385 shares of the company’s stock valued at $1,645,000 after acquiring an additional 1,439 shares during the period. Neo Ivy Capital Management lifted its holdings in shares of Constellation Brands by 19.1% during the 3rd quarter. Neo Ivy Capital Management now owns 3,722 shares of the company’s stock valued at $960,000 after acquiring an additional 598 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in Constellation Brands by 19.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 19,846 shares of the company’s stock worth $5,111,000 after purchasing an additional 3,240 shares during the period. 77.34% of the stock is currently 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.