BMO Capital Markets Lowers Constellation Brands (NYSE:STZ) Price Target to $305.00

Constellation Brands (NYSE:STZ) had its target price lowered by stock analysts at BMO Capital Markets from $315.00 to $305.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 24.57% from the stock’s previous close.

A number of other research firms have also commented on STZ. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group upped their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Barclays dropped their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Truist Financial dropped their price target 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, Evercore ISI reduced their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $290.47.

Constellation Brands Stock Down 0.4 %

Shares of NYSE STZ traded down $0.87 during trading hours on Tuesday, hitting $244.84. The stock had a trading volume of 104,582 shares, compared to its average volume of 1,182,211. The company has a market capitalization of $44.80 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.70 and a beta of 1.75. The firm’s 50-day moving average price is $246.28 and its two-hundred day moving average price is $252.09. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands has a 52 week low of $227.64 and a 52 week high of $274.87.

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

Insider Activity at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STZ. New Millennium Group LLC acquired a new position in shares of Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the 2nd quarter valued at about $32,000. Kapitalo Investimentos Ltda bought a new stake in Constellation Brands in the fourth quarter valued at approximately $35,000. Finally, First Financial Corp IN acquired a new stake in shares of Constellation Brands during the 1st quarter worth about $35,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.