Constellation Brands (NYSE:STZ) Downgraded by Morgan Stanley to “Equal Weight”

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

Several other equities research analysts have also recently issued reports on the stock. Truist Financial decreased their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Barclays dropped their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Constellation Brands in a report on Monday, January 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $293.00 price target on shares of Constellation Brands in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $253.43.

Constellation Brands Stock Performance

Shares of STZ opened at $178.22 on Thursday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The company has a 50-day simple moving average of $191.11 and a 200-day simple moving average of $224.51. Constellation Brands has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a market capitalization of $32.21 billion, a PE ratio of 47.91, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released 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 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the business earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts predict that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several large investors have recently added to or reduced their stakes in STZ. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in Constellation Brands in the 4th quarter worth approximately $26,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands during the 4th quarter valued at $29,000. 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.