Constellation Brands (NYSE:STZ) Given New $168.00 Price Target at The Goldman Sachs Group

Constellation Brands (NYSE:STZ) had its price objective decreased by The Goldman Sachs Group from $196.00 to $168.00 in a report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Citigroup reduced their price target on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. BNP Paribas Exane cut Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target for the company. in a research report on Wednesday, September 3rd. Zacks Research cut Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 9th. Raymond James Financial upgraded Constellation Brands to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Jefferies Financial Group cut their price objective on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Constellation Brands presently has an average rating of “Hold” and a consensus price target of $190.16.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $140.51 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The company has a market cap of $24.77 billion, a PE ratio of -58.79, a P/E/G ratio of 0.42 and a beta of 1.75. The business has a 50-day simple moving average of $154.39 and a two-hundred day simple moving average of $169.74. Constellation Brands has a fifty-two week low of $131.20 and a fifty-two week high of $254.88.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the business earned $3.57 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities analysts expect that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands’s dividend payout ratio is presently -170.71%.

Insider Transactions at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares of the company’s stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.45% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after purchasing an additional 187 shares during the period. NBC Securities Inc. increased its holdings in Constellation Brands by 143,300.0% during the 1st quarter. NBC Securities Inc. now owns 1,434 shares of the company’s stock worth $263,000 after purchasing an additional 1,433 shares during the period. Merit Financial Group LLC increased its holdings in Constellation Brands by 36.9% during the 1st quarter. Merit Financial Group LLC now owns 3,110 shares of the company’s stock worth $571,000 after purchasing an additional 839 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Constellation Brands by 55.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 904 shares of the company’s stock worth $166,000 after purchasing an additional 322 shares during the period. Finally, Oak Asset Management LLC increased its holdings in Constellation Brands by 3.4% during the 1st quarter. Oak Asset Management LLC now owns 18,211 shares of the company’s stock worth $3,342,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds 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.