Needham & Company LLC Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective trimmed by Needham & Company LLC from $240.00 to $215.00 in a report released on Thursday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on STZ. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Truist Financial decreased their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada cut their target price on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. StockNews.com cut Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $220.00 to $202.00 in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $249.18.

Constellation Brands Trading Down 0.3 %

NYSE:STZ opened at $183.69 on Thursday. The stock has a fifty day moving average price of $177.19 and a 200 day moving average price of $214.74. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands has a 12-month low of $160.46 and a 12-month high of $274.87. The firm has a market cap of $33.20 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion during 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 business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 EPS. Sell-side analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.20%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands during the 4th quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Constellation Brands during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the fourth quarter worth about $28,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Constellation Brands in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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.