Morgan Stanley Boosts Constellation Brands (NYSE:STZ) Price Target to $298.00

Constellation Brands (NYSE:STZGet Rating) had its target price hoisted by equities research analysts at Morgan Stanley from $294.00 to $298.00 in a report issued on Tuesday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 30.87% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. TheStreet raised Constellation Brands from a “c+” rating to a “b-” rating in a research note on Thursday, April 28th. Credit Suisse Group boosted their target price on Constellation Brands from $278.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, April 8th. Wells Fargo & Company boosted their target price on Constellation Brands from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, June 8th. Truist Financial boosted their target price on Constellation Brands from $213.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, April 8th. Finally, StockNews.com upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Constellation Brands has an average rating of “Buy” and an average price target of $270.27.

Constellation Brands stock opened at $227.70 on Tuesday. The firm has a market cap of $42.86 billion, a price-to-earnings ratio of -1,265.00, a PEG ratio of 1.89 and a beta of 1.06. Constellation Brands has a 12 month low of $207.35 and a 12 month high of $261.52. The company has a current ratio of 1.23, a quick ratio of 0.65 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $244.56 and a two-hundred day simple moving average of $237.47.

Constellation Brands (NYSE:STZGet Rating) last released its earnings results 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 positive return on equity of 16.43% and a negative net margin of 0.42%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the business earned $1.82 earnings per share. Constellation Brands’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands will post 11.18 EPS for the current fiscal year.

In other news, CEO William A. Newlands sold 3,787 shares of the firm’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 sale, the chief executive officer now owns 14,798 shares in the company, valued at approximately $3,758,692. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James O. Bourdeau sold 12,860 shares of Constellation Brands stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $254.24, for a total transaction of $3,269,526.40. Following the completion of the sale, the executive vice president now owns 1,628 shares of the company’s stock, valued at approximately $413,902.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,822 shares of company stock valued at $6,451,256. 16.19% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of STZ. Core Wealth Advisors Inc. acquired a new position in shares of Constellation Brands during the fourth quarter worth $25,000. Curi Wealth Management LLC acquired a new position in Constellation Brands in the fourth quarter valued at $25,000. Wagner Wealth Management LLC acquired a new position in Constellation Brands in the fourth quarter valued at $26,000. MCF Advisors LLC acquired a new position in Constellation Brands in the first quarter valued at $25,000. Finally, Quent Capital LLC acquired a new position in Constellation Brands in the fourth quarter valued at $28,000. 74.99% of the stock is 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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