Constellation Brands (NYSE:STZ) Cut to Neutral at Piper Sandler

Constellation Brands (NYSE:STZ) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $200.00 price objective on the stock, down from their prior price objective of $245.00. Piper Sandler’s price target would suggest a potential upside of 10.58% from the stock’s previous close.

STZ has been the topic of a number of other reports. Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Jefferies Financial Group restated a “hold” rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. UBS Group lowered their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.00.

Constellation Brands Price Performance

Shares of STZ stock opened at $180.87 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market capitalization of $32.69 billion, a P/E ratio of 48.62, a P/E/G ratio of 1.59 and a beta of 0.90. The company’s 50-day simple moving average is $215.42 and its two-hundred day simple moving average is $233.86. Constellation Brands has a one year low of $176.51 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. Constellation Brands’s revenue was down .3% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands will post 13.52 EPS for the current year.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,746 shares of company stock valued at $15,017,097 over the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oakworth Capital Inc. lifted its position in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after buying an additional 42 shares during the last quarter. PFG Investments LLC raised its position in Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after purchasing an additional 42 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after buying an additional 46 shares during the period. Rosenberg Matthew Hamilton grew its holdings in Constellation Brands by 6.2% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock worth $221,000 after acquiring an additional 50 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its holdings in shares of Constellation Brands by 4.6% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,158 shares of the company’s stock valued at $298,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

About Constellation Brands

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.