Piper Sandler Cuts Constellation Brands (NYSE:STZ) Price Target to $245.00

Constellation Brands (NYSE:STZ) had its price target reduced by Piper Sandler from $300.00 to $245.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also weighed in on the stock. BNP Paribas initiated coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday. TD Cowen reduced their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Constellation Brands Trading Down 0.8 %

NYSE:STZ opened at $180.82 on Monday. Constellation Brands has a 12 month low of $176.51 and a 12 month high of $274.87. The stock has a market capitalization of $32.83 billion, a PE ratio of 58.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $229.71 and its 200 day moving average is $240.26.

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

Constellation Brands Announces Dividend

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 $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,172 shares of company stock valued at $16,778,841 over the last three months. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Paloma Partners Management Co raised its stake in shares of Constellation Brands by 568.4% during the third quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $7,731,000 after acquiring an additional 25,512 shares during the last quarter. Empowered Funds LLC increased its position in shares of Constellation Brands by 318.8% during the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Constellation Brands by 3.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after purchasing an additional 2,980 shares during the period. WealthPlan Investment Management LLC increased its stake in shares of Constellation Brands by 29.5% during the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after purchasing an additional 6,867 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Constellation Brands during the third quarter valued at approximately $2,132,000. 77.34% of the stock is owned by institutional investors.

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.