Constellation Brands (NYSE:STZ) Lowered to Equal Weight Rating by Morgan Stanley

Constellation Brands (NYSE:STZ) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday,Finviz reports. They presently have a $202.00 price objective on the stock, down from their previous price objective of $220.00. Morgan Stanley’s target price points to a potential upside of 13.34% from the stock’s previous close.

Several other analysts have also recently commented on STZ. Wells Fargo & Company dropped their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. TD Cowen decreased their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a report on Monday, January 27th. Truist Financial dropped their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Finally, Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $253.43.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $178.22 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The company has a market cap of $32.21 billion, a PE ratio of 47.91, a P/E/G ratio of 1.52 and a beta of 1.75. The business has a 50-day simple moving average of $191.11 and a two-hundred day simple moving average of $224.51.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 earnings per share. As a group, equities analysts expect that Constellation Brands will post 13.5 EPS for the current fiscal year.

Insider Activity at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 12.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 3.4% in the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock valued at $2,155,946,000 after purchasing an additional 324,690 shares during the period. State Street Corp raised its position in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the period. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $1,242,976,000. Finally, Geode Capital Management LLC grew its stake in Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock valued at $705,844,000 after acquiring an additional 63,323 shares in the last quarter. 77.34% of the stock is currently 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.