Constellation Brands (NYSE:STZ) Price Target Cut to $248.00

Constellation Brands (NYSE:STZGet Rating) had its price target decreased by Deutsche Bank Aktiengesellschaft from $250.00 to $248.00 in a note issued to investors on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 4.47% from the stock’s previous close.

STZ has been the topic of several other reports. TheStreet upgraded shares of Constellation Brands from a “c+” rating to a “b-” rating in a research report on Thursday, April 28th. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $278.00 to $276.00 and set an “overweight” rating for the company in a report on Monday, April 4th. Wells Fargo & Company raised their target price on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. Credit Suisse Group raised their price target on shares of Constellation Brands from $278.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, April 8th. Finally, Truist Financial raised their price target on shares of Constellation Brands from $213.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, April 8th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.27.

Shares of STZ stock opened at $237.40 on Tuesday. Constellation Brands has a one year low of $207.35 and a one year high of $261.52. The company has a 50 day moving average price of $244.06 and a 200 day moving average price of $237.46. The firm has a market capitalization of $44.68 billion, a price-to-earnings ratio of -1,318.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.65 and a current ratio of 1.23.

Constellation Brands (NYSE:STZGet Rating) last released its quarterly earnings results on Thursday, April 7th. The company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.22. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business earned $1.82 EPS. The business’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands will post 11.13 EPS for the current fiscal year.

In other news, EVP James O. Bourdeau sold 12,860 shares of the stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $254.24, for a total value of $3,269,526.40. Following the completion of the sale, the executive vice president now owns 1,628 shares of the company’s stock, valued at approximately $413,902.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 3,787 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $254.00, for a total transaction of $961,898.00. Following the completion of the transaction, the chief executive officer now directly owns 14,798 shares in the company, valued at $3,758,692. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,822 shares of company stock valued at $6,451,256. 16.19% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of STZ. Curi Wealth Management LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Constellation Brands during the fourth quarter worth $25,000. MCF Advisors LLC bought a new stake in shares of Constellation Brands during the first quarter worth $25,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Constellation Brands during the fourth quarter worth $26,000. Finally, Wagner Wealth Management LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth $26,000. 74.99% of the stock is owned by institutional investors.

About Constellation Brands (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Recommended Stories

The Fly logo

Analyst Recommendations for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.