Barclays Cuts Constellation Brands (NYSE:STZ) Price Target to $287.00

Constellation Brands (NYSE:STZ) had its target price cut by stock analysts at Barclays from $292.00 to $287.00 in a research note issued on Friday, BayStreet.CA reports. Barclays‘s price objective indicates a potential upside of 11.20% from the company’s current price.

Other research analysts have also issued research reports about the stock. Evercore ISI boosted their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Roth Mkm reduced their price objective on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research note on Friday. Truist Financial reissued a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Finally, HSBC boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and seventeen have given 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 $300.11.

Constellation Brands Stock Up 3.1 %

Shares of NYSE STZ traded up $7.72 during trading hours on Friday, hitting $258.09. 1,109,683 shares of the stock were exchanged, compared to its average volume of 1,204,276. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company has a market cap of $47.23 billion, a PE ratio of 27.42, a PEG ratio of 1.66 and a beta of 0.87. The firm has a fifty day moving average price of $254.77 and a 200-day moving average price of $253.97. Constellation Brands has a 12 month low of $227.50 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.91 EPS. On average, sell-side analysts expect that Constellation Brands will post 13.67 EPS for the current year.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. Company insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

A number of hedge funds have recently modified their holdings of STZ. BKM Wealth Management LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $28,000. YHB Investment Advisors Inc. purchased a new position in Constellation Brands during the first quarter worth about $35,000. Kapitalo Investimentos Ltda purchased a new position in Constellation Brands during the fourth quarter worth about $35,000. First Financial Corp IN purchased a new position in Constellation Brands during the first quarter worth about $35,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Constellation Brands during the fourth quarter worth about $37,000. 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.