Constellation Brands (NYSE:STZ) Shares Gap Down – Here’s Why

Constellation Brands, Inc. (NYSE:STZ)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $222.57, but opened at $217.80. Constellation Brands shares last traded at $218.68, with a volume of 289,237 shares changing hands.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of analyst reports. BNP Paribas assumed coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective on the stock. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Finally, BMO Capital Markets reduced their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $288.70.

Constellation Brands Trading Down 1.2 %

The business’s fifty day moving average price is $234.48 and its 200 day moving average price is $243.63. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $39.94 billion, a PE ratio of 71.19, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company earned $3.70 EPS. Constellation Brands’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Insider Activity

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction 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 transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 over the last quarter. Company insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of 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 acquiring an additional 142 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands during the 2nd quarter worth approximately $36,000. Wellington Shields & Co. LLC grew its position in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Eastern Bank purchased a new stake in shares of Constellation Brands during the third quarter valued at approximately $39,000. Finally, Denver PWM LLC acquired a new position in shares of Constellation Brands during the second quarter worth $42,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

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.