Bank of America Boosts Constellation Brands (NYSE:STZ) Price Target to $182.00

Constellation Brands (NYSE:STZ) had its price objective hoisted by equities researchers at Bank of America from $180.00 to $182.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 5.44% from the company’s current price.

Several other research analysts have also recently commented on STZ. JPMorgan Chase & Co. boosted their target price on Constellation Brands from $170.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday. Roth Mkm lowered their target price on Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on Constellation Brands from $191.00 to $185.00 and set a “hold” rating for the company in a research note on Thursday, June 5th. Roth Capital lowered their price objective on Constellation Brands from $256.00 to $239.00 and set a “buy” rating for the company in a research report on Tuesday, May 20th. Finally, BMO Capital Markets lowered their price objective on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $213.35.

Constellation Brands Trading Down 0.7%

Shares of NYSE STZ opened at $172.61 on Thursday. Constellation Brands has a twelve month low of $159.35 and a twelve month high of $264.45. The company has a current ratio of 1.07, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The stock has a fifty day simple moving average of $177.11 and a 200-day simple moving average of $183.64. The stock has a market capitalization of $30.73 billion, a PE ratio of -72.22, a PEG ratio of 9.57 and a beta of 0.67.

Constellation Brands (NYSE:STZ) last released its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the firm earned $3.57 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands will post 13.5 earnings per share for the current year.

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president directly owned 3,126 shares of the company’s stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.45% of the stock is currently owned by company insiders.

Institutional Trading of Constellation Brands

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its position in shares of Constellation Brands by 36.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after purchasing an additional 815 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the 4th quarter valued at approximately $26,000. Golden State Wealth Management LLC raised its stake in Constellation Brands by 137.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company’s stock valued at $405,000 after acquiring an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Constellation Brands by 28.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company’s stock valued at $1,351,000 after acquiring an additional 1,651 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in Constellation Brands by 8.1% during the 1st quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company’s stock valued at $458,000 after acquiring an additional 187 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

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 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.