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

Constellation Brands (NYSE:STZ) had its price target cut by Barclays from $282.00 to $214.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on STZ. Evercore ISI decreased their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday. BNP Paribas assumed coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. TD Cowen lowered their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley reduced their price target on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Constellation Brands Stock Down 2.0 %

Constellation Brands stock opened at $182.18 on Tuesday. The firm has a 50 day simple moving average of $229.71 and a 200 day simple moving average of $240.26. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands has a 1-year low of $176.51 and a 1-year high of $274.87. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 58.96, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the business earned $3.19 earnings per share. Constellation Brands’s revenue was down .3% on a year-over-year basis. On average, analysts predict that Constellation Brands will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at $3,898,045.58. The trade was a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock worth $16,778,841 in the last 90 days. 12.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors have recently added to or reduced their stakes in STZ. Versant Capital Management Inc increased its position in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the second quarter worth about $36,000. Eastern Bank bought a new stake in shares of Constellation Brands in the third quarter worth about $39,000. FSA Wealth Management LLC purchased a new position in Constellation Brands during the 3rd quarter valued at about $42,000. Finally, Truvestments Capital LLC bought a new position in Constellation Brands during the 3rd quarter valued at approximately $60,000. Hedge funds and other institutional investors 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.