Constellation Brands (NYSE:STZ) Price Target Cut to $170.00 by Analysts at Citigroup

Constellation Brands (NYSE:STZ - Get Free Report) had its price objective reduced by Citigroup from $190.00 to $170.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price objective would indicate a potential upside of 5.47% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. The Goldman Sachs Group cut their price objective on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a research report on Thursday, June 5th. BMO Capital Markets cut their price target on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Barclays raised their price objective on shares of Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Finally, Jefferies Financial Group dropped their price objective on shares of Constellation Brands from $201.00 to $196.00 in a report on Friday, April 11th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $219.13.

Constellation Brands Stock Up 0.4%

Shares of STZ opened at $161.19 on Wednesday. The company's 50-day moving average price is $182.59 and its 200 day moving average price is $189.92. Constellation Brands has a 12-month low of $159.44 and a 12-month high of $265.70. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The firm has a market cap of $28.70 billion, a P/E ratio of -316.28, a price-to-earnings-growth ratio of 8.82 and a beta of 0.70.

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

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 12.45% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its position in Constellation Brands by 0.8% in the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after acquiring an additional 59 shares during the period. Piscataqua Savings Bank raised its stake in shares of Constellation Brands by 1.7% during the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock worth $683,000 after purchasing an additional 62 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Constellation Brands by 5.8% during the first quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock worth $207,000 after purchasing an additional 62 shares during the period. World Investment Advisors grew its position in Constellation Brands by 1.7% in the 1st quarter. World Investment Advisors now owns 3,801 shares of the company's stock valued at $698,000 after buying an additional 62 shares during the last quarter. Finally, Moody National Bank Trust Division increased its stake in Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after buying an additional 64 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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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