Constellation Brands (NYSE:STZ) Price Target Lowered to $190.00 at Truist Financial

Constellation Brands (NYSE:STZ - Free Report) had its target price trimmed by Truist Financial from $255.00 to $190.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also issued research reports about the stock. BNP Paribas started coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a "neutral" rating and a $261.00 price objective on the stock. Argus lowered Constellation Brands from a "buy" rating to a "hold" rating in a research note on Tuesday. Barclays lowered their target price on Constellation Brands from $282.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a report on Monday. Finally, Bank of America reissued a "neutral" rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of "Moderate Buy" and an average target price of $261.40.

Constellation Brands Stock Down 2.0 %

Shares of STZ traded down $3.73 during midday trading on Tuesday, hitting $182.18. 3,354,667 shares of the company's stock traded hands, compared to its average volume of 3,270,564. The firm's fifty day moving average is $230.80 and its 200-day moving average is $240.79. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands has a 1 year low of $176.51 and a 1 year high of $274.87. The stock has a market capitalization of $33.08 billion, a price-to-earnings ratio of 58.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

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 analysts' consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company's quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $3.19 EPS. As a group, sell-side analysts anticipate that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

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

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,446 shares of company stock valued at $45,687,281. 12.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands in the 2nd quarter worth about $36,000. Eastern Bank bought a new stake in Constellation Brands during the 3rd quarter valued at approximately $39,000. Versant Capital Management Inc lifted its stake in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after buying an additional 142 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Constellation Brands in the 3rd quarter valued at $42,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Constellation Brands in the 3rd quarter valued at $60,000. Institutional investors 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.