Constellation Brands (NYSE:STZ) Price Target Cut to $170.00 by Analysts at Citigroup

Constellation Brands (NYSE:STZ) had its price target lowered by Citigroup from $190.00 to $170.00 in a research note released on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Roth Capital dropped their price objective on shares of Constellation Brands from $256.00 to $239.00 and set a “buy” rating on the stock in a research note on Tuesday, May 20th. Bernstein Bank dropped their price target on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lowered their target price on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. CJS Securities cut their target price on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $215.87.

Constellation Brands Price Performance

Constellation Brands stock opened at $159.99 on Wednesday. The firm has a fifty day moving average of $182.12 and a 200-day moving average of $189.71. The firm has a market capitalization of $28.48 billion, a P/E ratio of -313.71, a PEG ratio of 8.70 and a beta of 0.70. Constellation Brands has a 52-week low of $159.44 and a 52-week high of $265.70. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. As a group, analysts predict that Constellation Brands will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.45% of the stock is owned by corporate insiders.

Institutional Trading of Constellation Brands

Hedge funds have recently modified their holdings of the company. Berkshire Hathaway Inc bought a new stake in Constellation Brands in the fourth quarter valued at $1,242,976,000. Vanguard Group Inc. lifted its position in Constellation Brands by 18.6% during the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock valued at $3,379,999,000 after purchasing an additional 2,882,817 shares during the period. Wellington Management Group LLP lifted its stake in shares of Constellation Brands by 127.9% in the 1st quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after purchasing an additional 2,514,517 shares during the period. Norges Bank bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $445,883,000. Finally, D1 Capital Partners L.P. grew its holdings in shares of Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after buying an additional 994,639 shares during the period. Institutional investors own 77.34% of the company’s stock.

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.