Morgan Stanley Lowers Constellation Brands (NYSE:STZ) Price Target to $220.00

Constellation Brands (NYSE:STZ) had its price objective reduced by Morgan Stanley from $280.00 to $220.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 21.17% from the company’s previous close.

Several other brokerages also recently commented on STZ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research note on Friday. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Roth Mkm restated a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.30.

Constellation Brands Stock Performance

NYSE:STZ opened at $181.57 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average of $231.88 and a 200-day moving average of $241.28. Constellation Brands has a twelve month low of $179.55 and a twelve month high of $274.87. The firm has a market cap of $32.97 billion, a price-to-earnings ratio of 58.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results 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). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the firm posted $3.19 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. Analysts forecast that Constellation Brands will post 13.57 earnings per share for the current fiscal year.

Insider Activity at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,446 shares of company stock valued at $45,687,281 over the last quarter. 12.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STZ. Czech National Bank raised its position in Constellation Brands by 6.1% in the 4th quarter. Czech National Bank now owns 33,851 shares of the company’s stock worth $7,481,000 after purchasing an additional 1,933 shares during the last quarter. Jacobs & Co. CA raised its position in shares of Constellation Brands by 4.2% during the fourth quarter. Jacobs & Co. CA now owns 39,189 shares of the company’s stock worth $8,660,000 after acquiring an additional 1,564 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after acquiring an additional 147,457 shares during the period. Ables Iannone Moore & Associates Inc. increased its position in Constellation Brands by 9.0% in the fourth 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. Finally, Doliver Advisors LP bought a new stake in Constellation Brands during the 4th quarter worth about $348,000. Institutional investors and hedge funds 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.