Constellation Brands (NYSE:STZ) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley downgraded shares of Constellation Brands (NYSE:STZ) from an overweight rating to an equal weight rating in a report published on Thursday, Marketbeat reports. They currently have $202.00 price objective on the stock, down from their prior price objective of $220.00.

Several other equities research analysts have also weighed in on STZ. Roth Capital reduced their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. StockNews.com lowered Constellation Brands from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $293.00 target price on shares of Constellation Brands in a report on Monday, February 3rd. Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $253.43.

Constellation Brands Stock Down 2.8 %

Shares of Constellation Brands stock opened at $173.43 on Thursday. The firm has a market cap of $31.34 billion, a price-to-earnings ratio of 46.62, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands has a 52-week low of $160.46 and a 52-week high of $274.87. The stock has a 50-day simple moving average of $190.04 and a 200-day simple moving average of $224.16.

Constellation Brands (NYSE:STZ) last announced its quarterly 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 firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.19 earnings per share. On average, equities research analysts expect that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is currently owned by company insiders.

Institutional Trading of Constellation Brands

Large investors have recently bought and sold shares of the stock. Mainstream Capital Management LLC bought a new stake in Constellation Brands in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in Constellation Brands in the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands in the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands in the fourth quarter valued at $28,000. Finally, Minot DeBlois Advisors LLC bought a new stake in Constellation Brands in the fourth quarter valued at $29,000. 77.34% of the stock is currently 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.