Barclays Cuts Constellation Brands (NYSE:STZ) Price Target to $203.00

Constellation Brands (NYSE:STZ) had its price target cut by Barclays from $205.00 to $203.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on STZ. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Wells Fargo & Company cut their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Needham & Company LLC lowered their target price on Constellation Brands from $240.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $249.18.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $183.69 on Thursday. The firm’s 50 day moving average is $177.19 and its two-hundred day moving average is $214.74. The firm has a market capitalization of $33.20 billion, a P/E ratio of 49.38, a PEG ratio of 1.52 and a beta of 1.75. 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 52 week low of $160.46 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its 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 business had revenue of $2.46 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 EPS. Analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairtree Asset Management Pty Ltd acquired a new stake in shares of Constellation Brands in the fourth quarter worth $459,000. DSG Capital Advisors LLC acquired a new position in Constellation Brands during the 4th quarter worth $328,000. California State Teachers Retirement System boosted its holdings in Constellation Brands by 2.6% during the fourth quarter. California State Teachers Retirement System now owns 300,853 shares of the company’s stock valued at $66,489,000 after acquiring an additional 7,737 shares during the period. 111 Capital bought a new stake in Constellation Brands during the fourth quarter valued at about $896,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Constellation Brands by 25.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 278,489 shares of the company’s stock valued at $61,546,000 after purchasing an additional 55,980 shares during the last quarter. 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.