Barclays Cuts Constellation Brands (NYSE:STZ) Price Target to $203.00

Constellation Brands (NYSE:STZ) had its target price decreased by equities research analysts at Barclays from $205.00 to $203.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 10.69% from the company’s previous close.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Jefferies Financial Group restated a “hold” rating and issued a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, Citigroup cut Constellation Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Hold” and an average price target of $249.18.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $183.40 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands has a 1 year low of $160.46 and a 1 year high of $274.87. The company’s 50-day moving average is $177.20 and its 200 day moving average is $215.67. The stock has a market capitalization of $33.15 billion, a P/E ratio of 49.33, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the company posted $3.19 EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that Constellation Brands will post 13.5 earnings per share for the current year.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several hedge funds have recently modified their holdings of STZ. Allworth Financial LP lifted its position in Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after acquiring an additional 59 shares during the last quarter. BSW Wealth Partners boosted its stake in Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after purchasing an additional 63 shares in the last quarter. Philip James Wealth Mangement LLC raised its holdings in shares of Constellation Brands by 8.0% in the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock worth $204,000 after buying an additional 68 shares during the last quarter. Oak Asset Management LLC increased its position in shares of Constellation Brands by 0.4% in the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock valued at $3,892,000 after acquiring an additional 71 shares during the period. Finally, Barden Capital Management Inc. raised its stake in Constellation Brands by 1.3% in the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock worth $1,232,000 after acquiring an additional 72 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other 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.