Constellation Brands (NYSE:STZ) Price Target Cut to $214.00

Constellation Brands (NYSE:STZ) had its price objective dropped by equities research analysts at Morgan Stanley from $227.00 to $214.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 10.59% from the stock’s previous close.

Several other equities analysts have also commented on the company. Credit Suisse Group reiterated an “outperform” rating and issued a $228.00 target price (down from $230.00) on shares of Constellation Brands in a research note on Friday. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 price target for the company in a research note on Monday, September 23rd. UBS Group upped their price target on Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. HSBC set a $235.00 price target on Constellation Brands and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group upped their price target on Constellation Brands from $264.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $223.14.

Constellation Brands stock traded down $0.75 during trading on Friday, hitting $193.51. The company’s stock had a trading volume of 1,318,733 shares, compared to its average volume of 1,004,657. The stock has a market capitalization of $40.12 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 3.12 and a beta of 0.69. The stock’s fifty day moving average is $203.62 and its 200 day moving average is $195.92. Constellation Brands has a 1-year low of $150.37 and a 1-year high of $228.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.12. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.87 earnings per share. On average, research analysts anticipate that Constellation Brands will post 8.33 EPS for the current fiscal year.

In other news, Director Jeremy S. G. Fowden sold 10,213 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the completion of the sale, the director now owns 27,630 shares of the company’s stock, valued at $5,452,780.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Richard Sands sold 95,521 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the sale, the insider now directly owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The disclosure for this sale can be found here. 15.86% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of STZ. Jackson Square Partners LLC purchased a new stake in shares of Constellation Brands in the first quarter worth about $395,015,000. Jennison Associates LLC boosted its position in shares of Constellation Brands by 120.4% in the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock worth $537,087,000 after buying an additional 1,490,064 shares during the period. Bank of America Corp DE boosted its position in shares of Constellation Brands by 65.0% in the second quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock worth $697,895,000 after buying an additional 1,395,888 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Constellation Brands by 14,808.3% in the second quarter. Nuveen Asset Management LLC now owns 655,518 shares of the company’s stock worth $129,098,000 after buying an additional 651,121 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Constellation Brands by 68.1% in the second quarter. Invesco Ltd. now owns 1,552,996 shares of the company’s stock worth $305,847,000 after buying an additional 629,124 shares during the period. 72.10% of the stock is owned by institutional investors.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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