Evercore ISI Cuts Constellation Brands (NYSE:STZ) Price Target to $250.00

Constellation Brands (NYSE:STZ - Free Report) had its target price cut by Evercore ISI from $300.00 to $250.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $280.00 price target on shares of Constellation Brands in a research report on Friday. Piper Sandler decreased their target price on Constellation Brands from $300.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday. Jefferies Financial Group reaffirmed a "hold" rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a report on Monday. BNP Paribas initiated coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a "neutral" rating and a $261.00 price objective on the stock. Finally, Roth Mkm restated a "buy" rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $268.05.

Constellation Brands Stock Up 2.2 %

Shares of NYSE STZ traded up $4.03 during mid-day trading on Monday, hitting $185.84. The company had a trading volume of 5,460,613 shares, compared to its average volume of 3,259,343. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a 50-day simple moving average of $230.80 and a two-hundred day simple moving average of $240.79. The company has a market capitalization of $33.74 billion, a PE ratio of 60.14, a price-to-earnings-growth 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 posted its quarterly 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 company had revenue of $2.46 billion for 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 firm's revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm earned $3.19 EPS. On average, equities analysts expect that Constellation Brands will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business 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 dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.17%. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Insider Activity at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of Constellation Brands 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 sale, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 188,446 shares of company stock valued at $45,687,281 in the last 90 days. 12.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in shares of Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company's stock worth $35,000 after acquiring an additional 142 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands during the 2nd quarter worth approximately $36,000. Eastern Bank acquired a new position in shares of Constellation Brands in the 3rd quarter worth approximately $39,000. FSA Wealth Management LLC bought a new stake in shares of Constellation Brands in the 3rd quarter valued at $42,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Constellation Brands during the second quarter worth $57,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.