Constellation Brands (STZ) PT Lowered to $207.00 at Morgan Stanley

Constellation Brands (NYSE:STZ) had its target price cut by analysts at Morgan Stanley from $246.00 to $207.00 in a report issued on Friday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 30.02% from the company’s previous close.

Several other equities research analysts have also weighed in on STZ. Guggenheim initiated coverage on shares of Constellation Brands in a research note on Thursday, September 13th. They set a “sell” rating and a $177.00 price objective on the stock. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. Evercore ISI set a $255.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Friday, September 21st. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. Finally, OTR Global upgraded shares of Constellation Brands to a “positive” rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $228.09.

STZ opened at $159.21 on Friday. The stock has a market cap of $28.60 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.57 and a beta of 0.38. Constellation Brands has a fifty-two week low of $150.37 and a fifty-two week high of $236.62. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, January 9th. The company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.33. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.91 billion. Constellation Brands had a net margin of 35.27% and a return on equity of 18.27%. Constellation Brands’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. Sell-side analysts predict that Constellation Brands will post 9.25 earnings per share for the current fiscal year.

In other news, Chairman Richard Sands sold 148,773 shares of the stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $223.69, for a total value of $33,279,032.37. Following the completion of the transaction, the chairman now directly owns 346,525 shares in the company, valued at $77,514,177.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas Michael Kane sold 4,419 shares of the stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $223.83, for a total transaction of $989,104.77. Following the completion of the transaction, the vice president now owns 8,499 shares of the company’s stock, valued at $1,902,331.17. The disclosure for this sale can be found here. Insiders sold 578,723 shares of company stock valued at $129,438,449 over the last quarter. Insiders own 15.80% of the company’s stock.

Large investors have recently modified their holdings of the stock. Independent Advisor Alliance boosted its holdings in Constellation Brands by 14.1% during the third quarter. Independent Advisor Alliance now owns 14,787 shares of the company’s stock worth $2,322,000 after buying an additional 1,825 shares in the last quarter. Vanguard Group Inc boosted its holdings in Constellation Brands by 0.3% during the third quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock worth $2,590,276,000 after buying an additional 30,782 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Constellation Brands by 73.9% during the third quarter. Clearbridge Investments LLC now owns 17,126 shares of the company’s stock worth $3,693,000 after buying an additional 7,275 shares in the last quarter. River Wealth Advisors LLC boosted its holdings in Constellation Brands by 14.7% during the third quarter. River Wealth Advisors LLC now owns 9,316 shares of the company’s stock worth $2,009,000 after buying an additional 1,197 shares in the last quarter. Finally, New England Research & Management Inc. bought a new stake in Constellation Brands during the third quarter worth approximately $634,000. Hedge funds and other institutional investors own 72.56% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Analyst Recommendations for Constellation Brands (NYSE:STZ)

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