UBS Group Cuts Constellation Brands (NYSE:STZ) Price Target to $295.00

Constellation Brands (NYSE:STZ) had its price objective lowered by UBS Group from $320.00 to $295.00 in a research note released on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

STZ has been the topic of several other reports. Barclays raised their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an overweight rating in a research report on Friday, July 19th. JPMorgan Chase & Co. cut their target price on shares of Constellation Brands from $320.00 to $307.00 and set an overweight rating for the company in a research note on Tuesday, September 3rd. Roth Mkm cut their target price on shares of Constellation Brands from $303.00 to $298.00 and set a buy rating for the company in a research note on Wednesday, September 4th. Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a buy rating in a research note on Friday, July 5th. Finally, Truist Financial reaffirmed a hold rating and set a $265.00 target price on shares of Constellation Brands in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $296.78.

Constellation Brands Stock Up 1.2 %

STZ opened at $251.71 on Monday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a market capitalization of $46.06 billion, a PE ratio of 18.76, a PEG ratio of 1.67 and a beta of 1.75. The firm’s 50 day simple moving average is $246.04 and its two-hundred day simple moving average is $253.77.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.91 EPS. As a group, equities analysts forecast that Constellation Brands will post 13.7 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.61%. Constellation Brands’s payout ratio is 30.10%.

Insider Activity at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 in the last 90 days. 12.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the second quarter valued at about $32,000. YHB Investment Advisors Inc. purchased a new position in shares of Constellation Brands in the 1st quarter valued at approximately $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands in the 4th quarter worth approximately $35,000. 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.