Constellation Brands (NYSE:STZ) Given New $282.00 Price Target at Barclays

Constellation Brands (NYSE:STZ) had its price target trimmed by Barclays from $300.00 to $282.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets reduced their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday. Evercore ISI lowered their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research report on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Stock Up 0.3 %

STZ stock opened at $219.17 on Wednesday. Constellation Brands has a 12 month low of $217.47 and a 12 month high of $274.87. The company’s 50 day simple moving average is $233.17 and its 200-day simple moving average is $242.30. The firm has a market capitalization of $39.79 billion, a PE ratio of 70.93, a P/E/G ratio of 1.69 and a beta of 1.75. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.84%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’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 completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, 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. Over the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently made changes to their positions in STZ. Ables Iannone Moore & Associates Inc. lifted its position in shares of Constellation Brands by 9.0% in the 4th quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock worth $1,929,000 after purchasing an additional 718 shares during the period. Doliver Advisors LP acquired a new position in Constellation Brands during the fourth quarter worth about $348,000. Nordea Investment Management AB raised its stake in shares of Constellation Brands by 10.7% in the 4th quarter. Nordea Investment Management AB now owns 164,505 shares of the company’s stock valued at $36,446,000 after acquiring an additional 15,942 shares during the period. Versant Capital Management Inc grew its holdings in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares in the last quarter. Finally, Copley Financial Group Inc. acquired a new position in shares of Constellation Brands in the 3rd quarter valued at $455,000. Institutional investors own 77.34% of the company’s stock.

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.