Constellation Brands (NYSE:STZ) Price Target Lowered to $225.00 at The Goldman Sachs Group

Constellation Brands (NYSE:STZ) had its target price trimmed by The Goldman Sachs Group from $260.00 to $225.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

STZ has been the topic of several other research reports. Jefferies Financial Group restated a “hold” rating and issued a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. StockNews.com raised Constellation Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets decreased their target price on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial lowered their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI cut their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $234.38.

Constellation Brands Price Performance

Shares of STZ opened at $185.63 on Friday. The business has a 50-day moving average of $176.86 and a 200-day moving average of $209.03. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market capitalization of $33.55 billion, a price-to-earnings ratio of 49.90, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands has a 1 year low of $160.46 and a 1 year high of $270.18.

Constellation Brands (NYSE:STZ) last released its quarterly 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 firm 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 company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.26 EPS. As a group, equities research analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

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

Insiders Place Their Bets

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several institutional investors and hedge funds have recently made changes to their positions in STZ. Berkshire Hathaway Inc purchased a new position in Constellation Brands during the fourth quarter worth about $1,242,976,000. Norges Bank bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. boosted its stake 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 last quarter. D1 Capital Partners L.P. grew its holdings in shares of Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after acquiring an additional 994,639 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Constellation Brands by 1,844.7% during the fourth 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 last quarter. 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.