Citigroup Cuts Constellation Brands (NYSE:STZ) Price Target to $190.00

Constellation Brands (NYSE:STZ) had its target price cut by Citigroup from $200.00 to $190.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. TD Cowen decreased their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a report on Wednesday, April 9th. Barclays cut their target price on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Roth Mkm reduced their price target on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Constellation Brands has a consensus rating of “Hold” and an average price target of $231.10.

Constellation Brands Stock Up 0.5 %

Shares of NYSE STZ opened at $185.63 on Friday. Constellation Brands has a 1 year low of $160.46 and a 1 year high of $265.70. The firm’s 50-day moving average is $176.86 and its 200-day moving average is $208.70. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $33.55 billion, a PE ratio of 49.90, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. Equities analysts expect that Constellation Brands will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be paid a $1.02 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, April 29th. Constellation Brands’s payout ratio is presently -792.16%.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently made changes to their positions in STZ. Mainstream Capital Management LLC acquired a new stake in Constellation Brands in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new stake in Constellation Brands in the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA bought a new position in Constellation Brands during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the fourth quarter worth approximately $28,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Constellation Brands during the fourth quarter worth approximately $29,000. 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.