Constellation Brands (NYSE:STZ) Stock Rating Lowered by Argus

Argus cut shares of Constellation Brands (NYSE:STZ - Free Report) from a buy rating to a hold rating in a research note released on Tuesday, MarketBeat Ratings reports.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. restated a "neutral" rating and issued a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research note on Monday. Morgan Stanley cut their price objective on Constellation Brands from $280.00 to $220.00 and set an "overweight" rating on the stock in a research report on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 target price on shares of Constellation Brands in a research report on Friday. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a report on Friday, October 4th. Finally, Piper Sandler reduced their price target on shares of Constellation Brands from $300.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

Constellation Brands Stock Down 2.0 %

Shares of Constellation Brands stock traded down $3.73 during trading hours on Tuesday, reaching $182.18. The company's stock had a trading volume of 3,354,840 shares, compared to its average volume of 3,271,273. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock's fifty day simple moving average is $229.71 and its two-hundred day simple moving average is $240.26. The company has a market capitalization of $33.08 billion, a P/E ratio of 58.96, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands has a one year low of $176.51 and a one year high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly 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 company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. On average, research analysts forecast that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands's payout ratio is 130.74%.

Insider Activity

In related news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares of the company's stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,446 shares of company stock worth $45,687,281. 12.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company's stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Janus Henderson Group PLC increased its stake in Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company's stock valued at $477,515,000 after acquiring an additional 21,454 shares during the last quarter. Legal & General Group Plc increased its stake in Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company's stock valued at $343,717,000 after acquiring an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock worth $128,765,000 after purchasing an additional 497,543 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.