Constellation Brands (NYSE:STZ) Receives Buy Rating from Needham & Company LLC

Constellation Brands (NYSE:STZ - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $280.00 price target on the stock. Needham & Company LLC's target price would indicate a potential upside of 23.01% from the stock's previous close.

A number of other brokerages also recently commented on STZ. TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and reduced their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a report on Friday, October 4th. Wells Fargo & Company lowered their target price on shares of Constellation Brands from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 26th. Barclays dropped their price objective on Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a research note on Monday, October 7th. Finally, Bank of America reiterated a "neutral" rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $288.70.

Constellation Brands Stock Performance

Shares of STZ traded up $0.58 during midday trading on Friday, reaching $227.63. 4,559,947 shares of the stock were exchanged, compared to its average volume of 1,241,726. The company has a market capitalization of $41.33 billion, a price-to-earnings ratio of 73.67, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands has a twelve month low of $224.76 and a twelve month high of $274.87. The business's 50-day moving average price is $237.87 and its 200 day moving average price is $245.41. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. Constellation Brands's revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts expect that Constellation Brands will post 13.57 EPS for the current fiscal year.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 over the last ninety days. Insiders own 12.19% of the company's stock.

Institutional Trading of Constellation Brands

A number of institutional investors have recently bought and sold shares of STZ. Paloma Partners Management Co raised its position in shares of Constellation Brands by 568.4% in the third quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock valued at $7,731,000 after buying an additional 25,512 shares in the last quarter. Empowered Funds LLC raised its holdings in Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company's stock valued at $2,624,000 after acquiring an additional 7,752 shares in the last quarter. WealthPlan Investment Management LLC raised its holdings in Constellation Brands by 29.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company's stock valued at $7,772,000 after acquiring an additional 6,867 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Constellation Brands during the 3rd quarter valued at $2,132,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Constellation Brands by 3.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company's stock worth $21,699,000 after purchasing an additional 2,980 shares in the last quarter. Institutional investors 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.