Wells Fargo & Company Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target reduced by stock analysts at Wells Fargo & Company from $185.00 to $170.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 18.80% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. UBS Group dropped their price target on Constellation Brands from $186.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Constellation Brands in a research note on Friday. Morgan Stanley boosted their price objective on Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Citigroup reiterated a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. Finally, Evercore set a $175.00 target price on shares of Constellation Brands and gave the stock an “outperform” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.21.

Constellation Brands Trading Down 2.2%

Shares of STZ stock opened at $143.09 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock has a market cap of $24.64 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 4.31 and a beta of 0.39. The firm’s 50 day moving average price is $146.88 and its two-hundred day moving average price is $150.35. Constellation Brands has a fifty-two week low of $126.45 and a fifty-two week high of $178.13.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company earned $2.63 earnings per share. Constellation Brands’s quarterly revenue was down 11.3% on a year-over-year basis. On average, analysts anticipate that Constellation Brands will post 11.77 EPS for the current year.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Several large investors have recently made changes to their positions in STZ. MV Capital Management Inc. acquired a new position in Constellation Brands in the fourth quarter worth approximately $26,000. Stance Capital LLC bought a new position in Constellation Brands during the third quarter valued at about $26,000. Strive Financial Group LLC bought a new position in Constellation Brands during the fourth quarter valued at about $27,000. GoalVest Advisory LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $28,000. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of Constellation Brands during the 1st quarter worth about $33,000. Institutional investors own 77.34% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.