Constellation Brands (NYSE:STZ) Given New $245.00 Price Target at Piper Sandler

Constellation Brands (NYSE:STZ) had its target price lowered by equities research analysts at Piper Sandler from $300.00 to $245.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 32.65% from the stock’s previous close.

Several other equities research analysts have also commented on STZ. Morgan Stanley dropped their price target on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, January 7th. Finally, BNP Paribas began coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $270.55.

Constellation Brands Trading Up 1.6 %

NYSE STZ traded up $2.89 during trading hours on Monday, hitting $184.70. 863,470 shares of the company’s stock were exchanged, compared to its average volume of 2,549,801. The business’s 50 day moving average is $231.88 and its 200-day moving average is $241.28. Constellation Brands has a 12-month low of $176.51 and a 12-month high of $274.87. The firm has a market capitalization of $33.53 billion, a P/E ratio of 59.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $3.19 earnings per share. As a group, analysts anticipate that Constellation Brands will post 13.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,446 shares of company stock worth $45,687,281. 12.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Crescent Sterling Ltd. grew its stake in Constellation Brands by 28.1% in the fourth quarter. Crescent Sterling Ltd. now owns 5,747 shares of the company’s stock valued at $1,270,000 after purchasing an additional 1,259 shares in the last quarter. Czech National Bank grew its stake in Constellation Brands by 6.1% in the fourth quarter. Czech National Bank now owns 33,851 shares of the company’s stock valued at $7,481,000 after purchasing an additional 1,933 shares in the last quarter. Jacobs & Co. CA grew its stake in Constellation Brands by 4.2% in the fourth quarter. Jacobs & Co. CA now owns 39,189 shares of the company’s stock valued at $8,660,000 after purchasing an additional 1,564 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Constellation Brands by 66.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after acquiring an additional 147,457 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. boosted its stake in shares of Constellation Brands by 9.0% during the 4th quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock worth $1,929,000 after acquiring an additional 718 shares in 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.