Constellation Brands (NYSE:STZ) Rating Lowered to Neutral at Citigroup

Constellation Brands (NYSE:STZ) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a report released on Thursday, Marketbeat reports. They currently have a $200.00 price objective on the stock, down from their previous price objective of $260.00. Citigroup’s price objective would suggest a potential upside of 12.53% from the stock’s current price.

Several other brokerages have also commented on STZ. Truist Financial cut their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI reduced their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, Roth Capital lowered their target price 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 analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and an average price target of $250.41.

Constellation Brands Price Performance

Constellation Brands stock opened at $177.73 on Thursday. 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 stock has a market cap of $32.12 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm has a 50-day moving average of $177.32 and a two-hundred day moving average of $217.28. Constellation Brands has a 1 year low of $160.46 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. On average, research analysts forecast that Constellation Brands will post 13.5 earnings per share for the current year.

Insider Activity at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is owned by corporate insiders.

Institutional Trading of Constellation Brands

Hedge funds have recently bought and sold shares of the business. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands during the 4th quarter worth $1,242,976,000. Norges Bank acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. boosted its position in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. D1 Capital Partners L.P. increased its holdings in Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after purchasing an additional 994,639 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Institutional investors and hedge funds 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.