Wells Fargo & Company Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Key Points

• Wells Fargo cut Constellation Brands’ price target from $170 to $140 while maintaining an “overweight” rating, implying roughly 24% upside from the stock’s $113 price.
• Analyst sentiment is mixed: the consensus rating is “Hold,” with an average price target of $157.40; several firms recently lowered their targets, including UBS, Jefferies and Morgan Stanley.
• Constellation Brands shares were near their 52-week low, while institutional investors owned 77.34% of the stock and some funds recently increased their positions.

Constellation Brands (NYSE:STZ - Get Free Report) had its target price dropped by Wells Fargo & Company from $170.00 to $140.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 23.89% from the stock's current price.

Other analysts also recently issued research reports about the stock. UBS Group reduced their price objective on shares of Constellation Brands from $168.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Roth Capital reissued a "buy" rating and set a $209.00 target price on shares of Constellation Brands in a research note on Thursday, July 2nd. Freedom Capital cut shares of Constellation Brands from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. Jefferies Financial Group decreased their price target on shares of Constellation Brands from $147.00 to $135.00 and set a "hold" rating for the company in a research note on Monday, September 14th. Finally, Morgan Stanley dropped their price objective on shares of Constellation Brands from $183.00 to $158.00 and set an "equal weight" rating on the stock in a report on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $157.40.

Constellation Brands Trading Up 0.1%

Shares of STZ stock opened at $113.00 on Monday. Constellation Brands has a fifty-two week low of $111.54 and a fifty-two week high of $168.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.48 and a current ratio of 0.91. The stock has a 50 day simple moving average of $126.96 and a two-hundred day simple moving average of $139.17. The company has a market cap of $19.30 billion, a P/E ratio of 10.78, a PEG ratio of 2.24 and a beta of 0.44.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ally Financial Inc. purchased a new stake in Constellation Brands in the 2nd quarter valued at $1,600,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Constellation Brands during the 2nd quarter worth $31,582,000. Concurrent Investment Advisors LLC grew its stake in shares of Constellation Brands by 1,613.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 27,915 shares of the company's stock worth $3,883,000 after acquiring an additional 26,286 shares in the last quarter. CORDA Investment Management LLC. grew its stake in shares of Constellation Brands by 12.6% in the 1st quarter. CORDA Investment Management LLC. now owns 140,050 shares of the company's stock worth $21,008,000 after acquiring an additional 15,694 shares in the last quarter. Finally, Amundi raised its holdings in shares of Constellation Brands by 15.1% in the first quarter. Amundi now owns 412,470 shares of the company's stock valued at $61,870,000 after purchasing an additional 54,158 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation's products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.

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