Constellation Brands (NYSE:STZ) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Constellation Brands (NYSE:STZ) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $215.00 target price on the stock.

STZ has been the subject of a number of other research reports. Truist Financial lowered their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Evercore ISI lowered their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Roth Capital cut their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Roth Mkm lowered their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Hold” and a consensus price target of $240.65.

Constellation Brands Price Performance

STZ opened at $184.61 on Thursday. The business has a fifty day moving average of $176.60 and a 200 day moving average of $209.49. The stock has a market cap of $33.36 billion, a P/E ratio of 49.63, a PEG ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands has a 52-week low of $160.46 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Constellation Brands will post 13.5 EPS for the current year.

Insider Activity at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 12.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Constellation Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock worth $1,626,000 after buying an additional 59 shares in the last quarter. BSW Wealth Partners raised its position in shares of Constellation Brands by 4.2% in the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after acquiring an additional 63 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Constellation Brands by 0.9% during the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company’s stock worth $1,283,000 after acquiring an additional 64 shares in the last quarter. Philip James Wealth Mangement LLC boosted its stake in shares of Constellation Brands by 8.0% during the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock worth $204,000 after acquiring an additional 68 shares in the last quarter. Finally, Oak Asset Management LLC grew its position in shares of Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock valued at $3,892,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.