Wells Fargo & Company Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ - Get Free Report) had its price target reduced by analysts at Wells Fargo & Company from $300.00 to $295.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 26.49% from the company's previous close.

Several other equities analysts have also commented on the company. UBS Group lowered their price objective on Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, September 9th. TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a report on Friday, October 4th. Roth Mkm reiterated a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, BNP Paribas began coverage on Constellation Brands in a report on Monday. They issued a "neutral" rating and a $261.00 price objective for the company. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $289.16.

Constellation Brands Trading Down 3.5 %

STZ stock traded down $8.45 on Tuesday, reaching $233.22. The company's stock had a trading volume of 1,869,385 shares, compared to its average volume of 1,204,992. The business has a fifty day simple moving average of $242.80 and a two-hundred day simple moving average of $247.27. Constellation Brands has a 12-month low of $224.76 and a 12-month high of $274.87. The firm has a market cap of $42.34 billion, a PE ratio of 75.13, a PEG ratio of 1.69 and a beta of 1.75. 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 announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.70 earnings per share. As a group, research analysts forecast that Constellation Brands will post 13.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert Sands sold 119,274 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company's stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. New Millennium Group LLC purchased a new position in Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands in the 2nd quarter valued at $32,000. LRI Investments LLC acquired a new position in shares of Constellation Brands during the first quarter valued at about $37,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the second quarter valued at about $36,000. 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.