Evercore ISI Cuts Constellation Brands (NYSE:STZ) Price Target to $250.00

Constellation Brands (NYSE:STZ) had its price objective lowered by investment analysts at Evercore ISI from $300.00 to $250.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 34.67% from the stock’s previous close.

A number of other research analysts also recently weighed in on STZ. Bank of America reaffirmed a “neutral” rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Piper Sandler lowered their target price on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday. Morgan Stanley cut their target price on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a report on Monday. TD Cowen decreased their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a research note on Monday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $268.05.

Constellation Brands Trading Up 2.1 %

STZ traded up $3.83 during trading on Monday, reaching $185.64. 1,304,990 shares of the stock traded hands, compared to its average volume of 2,640,230. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock’s 50-day moving average is $231.88 and its 200 day moving average is $241.28. Constellation Brands has a 12 month low of $176.51 and a 12 month high of $274.87. The stock has a market capitalization of $33.71 billion, a PE ratio of 60.08, a P/E/G 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 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current year.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,446 shares of company stock valued at $45,687,281. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands in the second quarter valued at $36,000. Eastern Bank bought a new stake in shares of Constellation Brands during the 3rd quarter valued at $39,000. FSA Wealth Management LLC purchased a new stake in Constellation Brands during the 3rd quarter worth about $42,000. Finally, Fairfield Financial Advisors LTD bought a new position in Constellation Brands in the 2nd quarter worth about $57,000. Hedge funds and other 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.