Citigroup Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective dropped by equities researchers at Citigroup from $200.00 to $190.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 2.35% from the stock’s current price.

STZ has been the subject of several other reports. Truist Financial cut their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley reduced their price objective on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Evercore ISI lowered their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $231.10.

Constellation Brands Stock Performance

STZ opened at $185.63 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands has a 52-week low of $160.46 and a 52-week high of $270.18. The firm has a market cap of $33.55 billion, a P/E ratio of 49.90, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business’s fifty day moving average is $176.86 and its 200-day moving average is $209.03.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.26 earnings per share. Sell-side analysts expect that Constellation Brands will post 13.5 EPS for the current fiscal year.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Piscataqua Savings Bank increased its stake in Constellation Brands by 1.7% in the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company’s stock valued at $683,000 after purchasing an additional 62 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Constellation Brands by 3,466.7% during the 1st quarter. Gateway Investment Advisers LLC now owns 81,356 shares of the company’s stock worth $14,930,000 after buying an additional 79,075 shares during the period. Blue Zone Wealth Advisors LLC raised its stake in Constellation Brands by 10.4% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 22,079 shares of the company’s stock worth $4,052,000 after buying an additional 2,078 shares during the period. Radnor Capital Management LLC grew its stake in Constellation Brands by 7.1% in the first quarter. Radnor Capital Management LLC now owns 7,558 shares of the company’s stock valued at $1,387,000 after acquiring an additional 504 shares during the period. Finally, Eagle Rock Investment Company LLC bought a new stake in shares of Constellation Brands during the first quarter valued at approximately $3,043,000. Institutional investors and hedge funds 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.