Needham & Company LLC Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its target price decreased by Needham & Company LLC from $215.00 to $195.00 in a report issued on Wednesday, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms have also commented on STZ. Deutsche Bank Aktiengesellschaft cut their price target on shares of Constellation Brands from $191.00 to $185.00 and set a “hold” rating on the stock in a report on Thursday, June 5th. Bank of America lowered their price objective on shares of Constellation Brands from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, June 18th. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Piper Sandler raised their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, June 6th. Finally, Truist Financial raised shares of Constellation Brands from a “hold” rating to a “buy” rating and raised their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.91.

Constellation Brands Trading Up 0.0%

NYSE STZ opened at $161.34 on Wednesday. Constellation Brands has a one year low of $159.35 and a one year high of $264.45. The company’s 50 day moving average price is $178.84 and its 200 day moving average price is $185.96. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. The firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of -316.35, a PEG ratio of 8.92 and a beta of 0.70.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm posted $2.26 earnings per share. Constellation Brands’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Constellation Brands will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were issued a dividend of $1.02 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.53%. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is currently -800.00%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC bought a new position in shares of Constellation Brands in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands in the 4th quarter worth about $26,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands in the 4th quarter worth about $28,000. Minot DeBlois Advisors LLC bought a new position in shares of Constellation Brands in the 4th quarter worth about $29,000. Finally, Optiver Holding B.V. bought a new position in shares of Constellation Brands in the 4th quarter worth about $31,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.