Constellation Brands (NYSE:STZ) Price Target Lowered to $168.00 at The Goldman Sachs Group

Constellation Brands (NYSE:STZ) had its price target trimmed by The Goldman Sachs Group from $196.00 to $168.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on the company. BNP Paribas downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Cowen reiterated a “hold” rating on shares of Constellation Brands in a report on Monday, July 7th. BNP Paribas Exane downgraded Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price objective on the stock. in a report on Wednesday, September 3rd. TD Cowen dropped their price objective on Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a report on Thursday, September 4th. Finally, Bank of America dropped their price target on Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $190.16.

Constellation Brands Trading Up 1.1%

STZ opened at $140.51 on Thursday. Constellation Brands has a one year low of $131.20 and a one year high of $254.88. The company has a market cap of $24.77 billion, a P/E ratio of -58.79, a PEG ratio of 0.42 and a beta of 1.75. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The business’s 50-day simple moving average is $154.39 and its 200-day simple moving average is $169.74.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company posted $3.57 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is currently -170.71%.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, the executive vice president directly owned 9,438 shares of the company’s stock, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.45% of the stock is owned by corporate insiders.

Institutional Trading of Constellation Brands

Hedge funds have recently modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new position in Constellation Brands in the 1st quarter valued at approximately $32,000. Rakuten Securities Inc. increased its stake in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Constellation Brands in the 1st quarter valued at approximately $38,000. Flaharty Asset Management LLC purchased a new position in Constellation Brands in the 1st quarter valued at approximately $39,000. Finally, Hoey Investments Inc. purchased a new position in Constellation Brands in the 2nd quarter valued at approximately $40,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.