Bank of America Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ - Get Free Report) had its price target lowered by research analysts at Bank of America from $195.00 to $180.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price objective would suggest a potential upside of 11.63% from the stock's previous close.

A number of other brokerages have also recently commented on STZ. The Goldman Sachs Group dropped their price target on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. DA Davidson cut their target price on Constellation Brands from $272.00 to $241.00 in a research note on Friday, April 11th. Roth Mkm reduced their price target on Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Jefferies Financial Group dropped their price target on shares of Constellation Brands from $201.00 to $196.00 in a research note on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.87.

Constellation Brands Trading Up 0.4%

STZ stock traded up $0.69 on Wednesday, reaching $161.25. The company's stock had a trading volume of 248,581 shares, compared to its average volume of 2,467,681. The firm has a market cap of $28.71 billion, a PE ratio of -316.23, a PEG ratio of 8.82 and a beta of 0.70. The business has a fifty day simple moving average of $182.59 and a two-hundred day simple moving average of $189.92. Constellation Brands has a 12-month low of $159.44 and a 12-month high of $265.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. Constellation Brands's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.26 earnings per share. As a group, research analysts forecast that Constellation Brands will post 13.5 EPS for the current year.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors have recently modified their holdings of STZ. Mainstream Capital Management LLC bought a new position in Constellation Brands during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the fourth quarter valued at approximately $26,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands in the fourth quarter worth approximately $28,000. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth approximately $29,000. Finally, Optiver Holding B.V. bought a new stake in shares of Constellation Brands during the 4th quarter worth approximately $31,000. 77.34% of the stock is owned by institutional investors.

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.

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