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

Constellation Brands (NYSE:STZ) had its price target reduced by investment analysts at TD Cowen from $270.00 to $260.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential upside of 18.94% from the company’s previous close.

A number of other analysts also recently issued reports on STZ. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday. BMO Capital Markets dropped their price target 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. Wells Fargo & Company reduced their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays lowered their price objective on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded up $0.09 on Wednesday, hitting $218.60. 743,666 shares of the company were exchanged, compared to its average volume of 1,525,762. 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 company has a 50-day moving average price of $233.49 and a 200 day moving average price of $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. Constellation Brands has a 1-year low of $217.47 and a 1-year high of $274.87.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % 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 in the last 90 days. Company insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $36,000. Wellington Shields & Co. LLC grew its stake in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares during the last quarter. Eastern Bank purchased a new stake in shares of Constellation Brands during the third quarter worth approximately $39,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Constellation Brands during the third quarter worth approximately $42,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.