Bank of America Cuts Constellation Brands (NYSE:STZ) Price Target to $142.00

Constellation Brands (NYSE:STZ) had its price target lowered by Bank of America from $150.00 to $142.00 in a research report sent to investors on Wednesday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

STZ has been the topic of a number of other research reports. Needham & Company LLC decreased their target price on shares of Constellation Brands from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $191.00 to $185.00 and set a “hold” rating on the stock in a report on Thursday, June 5th. UBS Group lifted their target price on shares of Constellation Brands from $195.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. Finally, Citigroup reiterated a “negative” rating on shares of Constellation Brands in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $194.36.

Constellation Brands Trading Up 1.7%

Shares of Constellation Brands stock opened at $148.38 on Wednesday. Constellation Brands has a 12-month low of $144.81 and a 12-month high of $261.06. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The stock has a market cap of $26.16 billion, a PE ratio of -62.08, a price-to-earnings-growth ratio of 0.44 and a beta of 0.67. The company has a 50-day moving average of $167.18 and a two-hundred day moving average of $175.24.

Constellation Brands (NYSE:STZ) last issued its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (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 company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the business posted $3.57 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. On average, research analysts anticipate that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.7%. Constellation Brands’s payout ratio is presently -170.71%.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares in the company, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.45% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares during the last quarter. Berkshire Hathaway Inc boosted its position in shares of Constellation Brands by 11.6% in the second quarter. Berkshire Hathaway Inc now owns 13,400,000 shares of the company’s stock worth $2,179,912,000 after buying an additional 1,391,000 shares during the period. Wellington Management Group LLP boosted its position in Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after purchasing an additional 2,514,517 shares during the last quarter. Geode Capital Management LLC boosted its position in Constellation Brands by 13.6% during the second quarter. Geode Capital Management LLC now owns 3,737,860 shares of the company’s stock valued at $605,293,000 after purchasing an additional 448,259 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in Constellation Brands by 39.6% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,675,855 shares of the company’s stock valued at $597,988,000 after purchasing an additional 1,042,904 shares during the last quarter. 77.34% of the stock is currently 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.