Morgan Stanley Cuts Constellation Brands (NYSE:STZ) Price Target to $220.00

Constellation Brands (NYSE:STZ) had its price objective decreased by Morgan Stanley from $280.00 to $220.00 in a research note issued to investors on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Roth Mkm reissued a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. BMO Capital Markets dropped their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. BNP Paribas started coverage on Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Constellation Brands Trading Down 0.8 %

Shares of NYSE:STZ opened at $180.82 on Monday. The company’s 50-day moving average price is $229.71 and its two-hundred day moving average price is $240.26. Constellation Brands has a one year low of $176.51 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market capitalization of $32.83 billion, a PE ratio of 58.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. The trade was a 69.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,172 shares of company stock valued at $16,778,841 in the last quarter. Company insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds have recently bought and sold shares of STZ. State Street Corp boosted its position in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after purchasing an additional 21,454 shares during the last quarter. Legal & General Group Plc lifted its stake in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

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.