Constellation Brands (NYSE:STZ – Free Report) had its price target trimmed by Truist Financial from $255.00 to $190.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the stock.
STZ has been the subject of several other research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a report on Monday. BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Evercore ISI reduced their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday. BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective on the stock. Finally, Bank of America reissued a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.
View Our Latest Report on Constellation Brands
Constellation Brands Price Performance
Constellation Brands (NYSE:STZ – Get Free Report) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the company posted $3.19 EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, analysts predict that Constellation Brands will post 13.57 EPS for the current year.
Constellation Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.22%. Constellation Brands’s payout ratio is 130.74%.
Insider Transactions at Constellation Brands
In related news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,172 shares of company stock valued at $16,778,841. Corporate insiders own 12.19% of the company’s stock.
Hedge Funds Weigh In On Constellation Brands
Several large investors have recently bought and sold shares of STZ. Radnor Capital Management LLC increased its stake in shares of Constellation Brands by 2.0% in the fourth quarter. Radnor Capital Management LLC now owns 7,054 shares of the company’s stock valued at $1,559,000 after buying an additional 135 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Constellation Brands by 347.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 582 shares of the company’s stock worth $129,000 after acquiring an additional 452 shares during the last quarter. Park Avenue Securities LLC increased its position in Constellation Brands by 28.2% in the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the company’s stock valued at $1,235,000 after acquiring an additional 1,228 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Constellation Brands by 17.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 137,674 shares of the company’s stock valued at $30,426,000 after acquiring an additional 20,836 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in shares of Constellation Brands during the fourth quarter worth $751,000. 77.34% of the stock is currently owned by institutional investors.
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.
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