Constellation Brands (NYSE:STZ) Price Target Lowered to $180.00 at Bank of America

Constellation Brands (NYSE:STZ) had its price target lowered by Bank of America from $195.00 to $180.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

STZ has been the topic of a number of other reports. Wall Street Zen raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. CJS Securities reduced their target price on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Truist Financial raised shares of Constellation Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. Bernstein Bank cut their price objective on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Finally, Piper Sandler lifted their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, June 6th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.87.

Constellation Brands Stock Performance

Constellation Brands stock opened at $159.99 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56. Constellation Brands has a 1-year low of $159.44 and a 1-year high of $265.70. The firm has a market capitalization of $28.48 billion, a P/E ratio of -313.71, a price-to-earnings-growth ratio of 8.70 and a beta of 0.70. The company’s 50-day moving average is $182.12 and its 200 day moving average is $189.71.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $2.26 earnings per share. Research analysts forecast 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. Stockholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands’s payout ratio is presently -800.00%.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock worth $1,626,000 after purchasing an additional 59 shares during the last quarter. Piscataqua Savings Bank raised its holdings in shares of Constellation Brands by 1.7% during the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company’s stock worth $683,000 after purchasing an additional 62 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Constellation Brands by 5.8% during the first quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company’s stock worth $207,000 after purchasing an additional 62 shares during the last quarter. World Investment Advisors raised its holdings in shares of Constellation Brands by 1.7% during the first quarter. World Investment Advisors now owns 3,801 shares of the company’s stock worth $698,000 after purchasing an additional 62 shares during the last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of Constellation Brands by 0.9% during the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company’s stock worth $1,283,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other 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.