Wells Fargo & Company Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ - Free Report) had its price objective decreased by Wells Fargo & Company from $295.00 to $275.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their target price 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. BNP Paribas started coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a "neutral" rating and a $261.00 target price for the company. Bank of America restated a "neutral" rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Evercore ISI decreased their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Finally, Roth Mkm restated a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and an average price target of $286.15.

Constellation Brands Stock Down 2.0 %

Shares of STZ stock traded down $4.49 during trading hours on Tuesday, hitting $218.44. 1,992,913 shares of the company's stock traded hands, compared to its average volume of 1,731,201. The stock's fifty day simple moving average is $233.85 and its two-hundred day simple moving average is $242.78. Constellation Brands has a 12-month low of $217.52 and a 12-month high of $274.87. The stock has a market cap of $39.66 billion, a price-to-earnings ratio of 70.69, a PEG ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Sands sold 119,274 shares of the business'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 completion of the sale, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. Company insiders own 12.19% of the company's stock.

Institutional Trading of Constellation Brands

Several hedge funds have recently bought and sold shares of the stock. Candriam S.C.A. raised its position in shares of Constellation Brands by 2.5% during the 2nd quarter. Candriam S.C.A. now owns 9,779 shares of the company's stock valued at $2,516,000 after buying an additional 236 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in Constellation Brands by 2,614.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 31,649 shares of the company's stock valued at $81,000 after purchasing an additional 30,483 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Constellation Brands by 494.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,789 shares of the company's stock valued at $973,000 after purchasing an additional 3,152 shares during the last quarter. Caprock Group LLC grew its holdings in Constellation Brands by 15.5% during the 2nd quarter. Caprock Group LLC now owns 3,642 shares of the company's stock valued at $937,000 after purchasing an additional 489 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in Constellation Brands by 14.4% during the 2nd quarter. Ballentine Partners LLC now owns 2,960 shares of the company's stock valued at $762,000 after purchasing an additional 372 shares during the last quarter. Hedge funds and other 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.