Wells Fargo & Company Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target reduced by equities researchers at Wells Fargo & Company from $230.00 to $210.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.81% from the company’s current price.

STZ has been the topic of a number of other reports. Citigroup lowered Constellation Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $200.00 in a report on Thursday, March 20th. Evercore ISI decreased their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. Finally, Roth Capital dropped their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $246.23.

Constellation Brands Stock Performance

Shares of STZ stock traded up $1.35 during mid-day trading on Wednesday, hitting $186.16. The stock had a trading volume of 131,494 shares, compared to its average volume of 2,761,868. Constellation Brands has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company’s 50-day simple moving average is $177.22 and its 200-day simple moving average is $213.55. The firm has a market cap of $33.64 billion, a PE ratio of 50.04, a PEG ratio of 1.52 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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current year.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Confluence Investment Management LLC raised its holdings in Constellation Brands by 13.5% during the first quarter. Confluence Investment Management LLC now owns 141,373 shares of the company’s stock valued at $25,945,000 after buying an additional 16,791 shares in the last quarter. Fairtree Asset Management Pty Ltd acquired a new stake in Constellation Brands in the 4th quarter worth approximately $459,000. DSG Capital Advisors LLC acquired a new position in Constellation Brands during the fourth quarter valued at approximately $328,000. California State Teachers Retirement System lifted its stake in shares of Constellation Brands by 2.6% in the fourth quarter. California State Teachers Retirement System now owns 300,853 shares of the company’s stock worth $66,489,000 after buying an additional 7,737 shares during the last quarter. Finally, 111 Capital acquired a new position in Constellation Brands in the 4th quarter valued at $896,000. Institutional investors own 77.34% of the company’s stock.

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.