Constellation Brands (NYSE:STZ – Get Free Report) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Briefing.com reports.
Other analysts have also recently issued research reports about the stock. Jefferies Financial Group began coverage on shares of Constellation Brands in a research note on Monday, November 13th. They issued a “buy” rating and a $292.00 target price on the stock. Wells Fargo & Company increased their target price on Constellation Brands from $280.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 3rd. HSBC raised their target price on Constellation Brands from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, October 6th. Barclays lowered their price target on Constellation Brands from $294.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, October 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a report on Friday, September 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $289.24.
Constellation Brands Stock Up 1.4 %
Shares of STZ opened at $253.54 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.46 and a current ratio of 1.05. The company has a 50-day simple moving average of $239.68 and a 200-day simple moving average of $249.04. Constellation Brands has a 52 week low of $210.15 and a 52 week high of $273.65. The firm has a market capitalization of $46.57 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.93 and a beta of 0.96.
Constellation Brands (NYSE:STZ – Get Free Report) last posted its quarterly earnings results on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm posted $2.83 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Constellation Brands will post 11.87 earnings per share for the current year.
Insider Buying and Selling at Constellation Brands
In other news, major shareholder Family Foundation Sands sold 102,152 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $241.84, for a total transaction of $24,704,439.68. Following the completion of the sale, the insider now owns 409,077 shares in the company, valued at $98,931,181.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.19% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of STZ. Vanguard Group Inc. raised its position in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after acquiring an additional 313,344 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Constellation Brands by 103,844.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,206,335 shares of the company’s stock valued at $2,265,955,000 after purchasing an additional 9,197,478 shares during the last quarter. Capital International Investors increased its holdings in Constellation Brands by 21.8% in the second quarter. Capital International Investors now owns 7,903,248 shares of the company’s stock valued at $1,945,226,000 after purchasing an additional 1,415,606 shares during the last quarter. State Street Corp lifted its stake in Constellation Brands by 0.8% in the second quarter. State Street Corp now owns 6,936,028 shares of the company’s stock valued at $1,707,165,000 after buying an additional 51,968 shares during the period. Finally, Morgan Stanley boosted its holdings in Constellation Brands by 1.5% during the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after buying an additional 58,518 shares during the last quarter. Institutional investors own 88.99% of the company’s stock.
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.