TD Cowen Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target dropped by research analysts at TD Cowen from $270.00 to $260.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 18.94% from the stock’s current price.

A number of other research firms have also commented on STZ. Truist Financial lowered their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Wells Fargo & Company decreased their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday. BMO Capital Markets reduced 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. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.75.

Constellation Brands Price Performance

Shares of STZ stock traded up $0.09 during trading on Wednesday, hitting $218.60. The company had a trading volume of 743,666 shares, compared to its average volume of 1,525,762. The stock’s 50-day moving average is $233.49 and its two-hundred day moving average is $242.46. The stock has a market capitalization of $39.69 billion, a price-to-earnings ratio of 70.74, a price-to-earnings-growth 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. Constellation Brands has a 52 week low of $217.47 and a 52 week high of $274.87.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 over the last 90 days. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Janus Henderson Group PLC grew its stake in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after acquiring an additional 21,454 shares during the period. Legal & General Group Plc increased its holdings in Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. 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.