Constellation Brands (NYSE:STZ) Price Target Lowered to $275.00 at Wells Fargo & Company

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

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, November 19th. Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Bank of America reaffirmed 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. Truist Financial cut their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Finally, BMO Capital Markets cut their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $286.15.

Constellation Brands Stock Down 2.0 %

Shares of NYSE STZ opened at $218.44 on Tuesday. The stock has a market cap of $39.66 billion, a PE ratio of 70.69, a PEG ratio of 1.69 and a beta of 1.75. The business has a fifty day moving average of $233.49 and a two-hundred day moving average of $242.46. Constellation Brands has a 52-week low of $217.52 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % 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, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. increased its position in Constellation Brands by 9.0% during the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock worth $1,929,000 after buying an additional 718 shares during the last quarter. Doliver Advisors LP acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $348,000. Nordea Investment Management AB raised its stake in Constellation Brands by 10.7% in the 4th quarter. Nordea Investment Management AB now owns 164,505 shares of the company’s stock valued at $36,446,000 after acquiring an additional 15,942 shares during the period. Versant Capital Management Inc lifted its holdings in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the last quarter. Finally, Copley Financial Group Inc. bought a new position in Constellation Brands during the third quarter worth $455,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.