Barclays Cuts Constellation Brands (NYSE:STZ) Price Target to $288.00

Constellation Brands (NYSE:STZGet Free Report) had its price target lowered by Barclays from $295.00 to $288.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 16.79% from the company’s current price.

A number of other brokerages have also issued reports on STZ. UBS Group raised their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. Evercore ISI lifted their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $298.20.

View Our Latest Research Report on Constellation Brands

Constellation Brands Stock Up 1.1 %

Shares of NYSE STZ opened at $246.59 on Wednesday. Constellation Brands has a 1 year low of $227.50 and a 1 year high of $274.87. The firm’s 50 day moving average price is $259.13 and its 200 day moving average price is $250.90. The firm has a market cap of $45.12 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZGet Free Report) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business earned $1.98 earnings per share. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands will post 13.53 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock valued at $12,582,321 in the last quarter. Company insiders own 16.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently modified their holdings of STZ. Capital International Investors boosted its holdings in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Norges Bank acquired a new position in shares of Constellation Brands in the 4th quarter valued at about $443,844,000. Capital World Investors boosted its holdings in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the period. Darsana Capital Partners LP boosted its holdings in shares of Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after buying an additional 650,000 shares during the period. Finally, Boston Partners acquired a new position in shares of Constellation Brands in the 4th quarter valued at about $156,358,000. Institutional investors own 77.34% of the company’s stock.

About Constellation Brands

(Get Free Report)

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.

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