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

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

Other analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Morgan Stanley downgraded Constellation Brands from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Barclays dropped their price objective on Constellation Brands from $214.00 to $205.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Truist Financial decreased 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. Finally, Citigroup downgraded Constellation Brands from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands has an average rating of "Hold" and a consensus target price of $249.18.

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Constellation Brands Stock Down 0.3 %

Shares of STZ traded down $0.49 during mid-day trading on Thursday, hitting $183.25. 528,943 shares of the company's stock were exchanged, compared to its average volume of 1,623,753. The stock has a market cap of $33.12 billion, a price-to-earnings ratio of 49.21, a P/E/G ratio of 1.52 and a beta of 1.75. The firm has a fifty day moving average of $177.19 and a two-hundred day moving average of $214.50. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands has a twelve month low of $160.46 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the firm earned $3.19 EPS. Constellation Brands's quarterly revenue was down .3% on a year-over-year basis. On average, sell-side 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 issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. Constellation Brands's payout ratio is presently 108.60%.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STZ. Berkshire Hathaway Inc bought a new position in Constellation Brands during the 4th quarter worth approximately $1,242,976,000. Norges Bank acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $445,883,000. Vanguard Group Inc. increased its stake in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the last quarter. D1 Capital Partners L.P. lifted its position in Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after buying an additional 994,639 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after buying an additional 876,745 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

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.