Needham & Company LLC Cuts Constellation Brands (NYSE:STZ) Price Target to $215.00

Constellation Brands (NYSE:STZ) had its price target reduced by Needham & Company LLC from $240.00 to $215.00 in a research note issued to investors on Thursday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts have also recently commented on STZ. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Jefferies Financial Group restated a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Barclays cut their price target on Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler cut 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $249.18.

Constellation Brands Trading Down 0.3 %

NYSE STZ opened at $183.69 on Thursday. Constellation Brands has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a fifty day simple moving average of $177.19 and a two-hundred day simple moving average 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. The stock has a market cap of $33.20 billion, a P/E ratio of 49.38, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $3.19 EPS. On average, analysts forecast that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

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

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 12.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

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