Constellation Brands (NYSE:STZ) Price Target Lowered to $275.00 at Wells Fargo & Company

Constellation Brands (NYSE:STZ) had its price objective cut by equities research analysts at Wells Fargo & Company from $295.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 22.54% from the company’s current price.

STZ has been the topic of a number of other research reports. Barclays decreased their target price on shares of 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 decreased their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. BNP Paribas initiated coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a research report on Friday, December 20th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $287.70.

Constellation Brands Stock Performance

Shares of STZ opened at $224.41 on Tuesday. The business has a 50-day simple moving average of $233.85 and a two-hundred day simple moving average of $242.78. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands has a 52 week low of $217.52 and a 52 week high of $274.87. The stock has a market cap of $40.74 billion, a price-to-earnings ratio of 72.62, a PEG ratio of 1.69 and a beta of 1.75.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 over the last 90 days. 12.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co lifted its stake in shares of Constellation Brands by 568.4% during the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after purchasing an additional 25,512 shares during the last quarter. Empowered Funds LLC raised its holdings in Constellation Brands by 318.8% in the third 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 in the last quarter. Nomura Asset Management Co. Ltd. lifted 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 valued at $21,699,000 after buying an additional 2,980 shares during the last quarter. WealthPlan Investment Management LLC boosted its holdings in shares of Constellation Brands by 29.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after buying an additional 6,867 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Constellation Brands in the 3rd quarter worth approximately $2,132,000. 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.