Constellation Brands (NYSE:STZ) Price Target Lowered to $190.00 at Citigroup

Constellation Brands (NYSE:STZ) had its price objective decreased by Citigroup from $200.00 to $190.00 in a research report report published on Friday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities analysts have also commented on STZ. UBS Group reduced their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Barclays lowered their price objective on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Royal Bank of Canada reduced their target price on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, The Goldman Sachs Group decreased their target price on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $234.38.

Constellation Brands Price Performance

STZ stock opened at $185.63 on Friday. The firm has a 50 day simple moving average of $176.86 and a two-hundred day simple moving average of $209.03. The stock has a market cap of $33.55 billion, a PE ratio of 49.90, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands has a one year low of $160.46 and a one year high of $270.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 earnings per share. On average, analysts predict that Constellation Brands will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. The ex-dividend date is Tuesday, April 29th. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.20%. Constellation Brands’s payout ratio is -792.16%.

Insider Buying and Selling

In related news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 12.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands in the 4th quarter valued at approximately $1,242,976,000. Norges Bank bought a new stake in shares of Constellation Brands during the 4th quarter valued at $445,883,000. Vanguard Group Inc. grew its position in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after buying an additional 1,821,969 shares during the period. D1 Capital Partners L.P. increased its stake in shares of 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 worth $337,619,000 after acquiring an additional 994,639 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after acquiring an additional 876,745 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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.