Piper Sandler Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ - Get Free Report) had its price objective decreased by analysts at Piper Sandler from $300.00 to $245.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 31.83% from the stock's current price.

STZ has been the topic of a number of other reports. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 15th. Barclays lowered their target price on shares of Constellation Brands from $300.00 to $282.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. BNP Paribas started coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a "neutral" rating and a $261.00 price target for the company. JPMorgan Chase & Co. restated a "neutral" rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday. Finally, Evercore ISI cut their target price on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $268.05.

Constellation Brands Price Performance

Shares of STZ stock traded up $4.03 during mid-day trading on Monday, reaching $185.84. The company's stock had a trading volume of 5,460,613 shares, compared to its average volume of 3,259,343. The firm's 50-day moving average is $230.80 and its two-hundred day moving average is $240.79. The company has a market cap of $33.74 billion, a P/E ratio of 60.14, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands has a 1-year low of $176.51 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

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

Insider Buying and Selling at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,446 shares of company stock worth $45,687,281. Insiders own 12.19% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STZ. Versant Capital Management Inc lifted its position in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after acquiring an additional 142 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the second quarter valued at about $36,000. Eastern Bank acquired a new position in shares of Constellation Brands during the third quarter worth about $39,000. FSA Wealth Management LLC bought a new position in shares of Constellation Brands during the third quarter worth about $42,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Constellation Brands in the 2nd quarter valued at approximately $57,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.