Bank of America Reiterates “Neutral” Rating for Constellation Brands (NYSE:STZ)

by · The Markets Daily

Constellation Brands (NYSE:STZ – Get Free Report)‘s stock had its “neutral” rating reissued by investment analysts at Bank of America in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $255.00 target price on the stock, down from their previous target price of $300.00. Bank of America‘s target price would suggest a potential upside of 5.75% from the company’s current price.

Several other equities analysts have also recently commented on STZ. Evercore ISI reduced their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Truist Financial cut their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Finally, Barclays raised their target price on shares of Constellation Brands from $295.00 to $309.00 and gave the stock an “overweight” rating in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $291.06.

Read Our Latest Report on Constellation Brands

Constellation Brands Stock Down 0.8 %

Shares of STZ opened at $241.13 on Monday. The company’s fifty day moving average is $246.47 and its two-hundred day moving average is $253.10. Constellation Brands has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market cap of $44.12 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ – Get Free Report) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business posted $3.70 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts forecast that Constellation Brands will post 13.53 earnings per share for the current year.

Insider Buying and Selling

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 in the last quarter. 12.19% of the stock is owned by corporate insiders.

Institutional Trading of Constellation Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in shares of Constellation Brands by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after purchasing an additional 39 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after buying an additional 41 shares during the period. Brighton Jones LLC raised its position in Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares in the last quarter. RDA Financial Network lifted its position in shares of Constellation Brands by 2.3% during the 1st quarter. RDA Financial Network now owns 1,923 shares of the company’s stock worth $523,000 after buying an additional 44 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its stake in Constellation Brands by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after purchasing an additional 44 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Company Profile

(Get Free Report)

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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