Constellation Brands (NYSE:STZ) Price Target Cut to $248.00

Constellation Brands (NYSE:STZGet Rating) had its price objective cut by research analysts at Deutsche Bank Aktiengesellschaft from $250.00 to $248.00 in a report issued on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 8.92% from the company’s current price.

Several other equities research analysts have also weighed in on STZ. TheStreet upgraded shares of Constellation Brands from a “c+” rating to a “b-” rating in a report on Thursday, April 28th. Morgan Stanley dropped their price objective on shares of Constellation Brands from $299.00 to $294.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. Credit Suisse Group raised their price objective on shares of Constellation Brands from $278.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, April 8th. Wells Fargo & Company raised their price objective on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. Finally, StockNews.com upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $270.00.

STZ opened at $227.70 on Tuesday. Constellation Brands has a one year low of $207.35 and a one year high of $261.52. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 0.65. The company’s 50 day simple moving average is $244.56 and its 200-day simple moving average is $237.47. The stock has a market capitalization of $42.86 billion, a P/E ratio of -1,265.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06.

Constellation Brands (NYSE:STZGet Rating) last announced its quarterly earnings data on Thursday, April 7th. The company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.22. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business posted $1.82 earnings per share. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Constellation Brands will post 11.18 EPS for the current year.

In other news, EVP Thomas Michael Kane sold 1,601 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $249.34, for a total value of $399,193.34. Following the completion of the transaction, the executive vice president now directly owns 4,692 shares in the company, valued at approximately $1,169,903.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 3,787 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $254.00, for a total transaction of $961,898.00. Following the completion of the transaction, the chief executive officer now owns 14,798 shares of the company’s stock, valued at $3,758,692. The disclosure for this sale can be found here. Insiders sold a total of 25,822 shares of company stock valued at $6,451,256 in the last quarter. Corporate insiders own 16.19% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Curi Wealth Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $25,000. MCF Advisors LLC bought a new stake in shares of Constellation Brands during the 1st quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $26,000. Finally, Wagner Wealth Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $26,000. 74.99% of the stock is currently owned by institutional investors.

About Constellation Brands (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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