Wells Fargo & Company Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ - Get Free Report) had its price target lowered by stock analysts at Wells Fargo & Company from $210.00 to $196.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 21.46% from the stock's current price.

STZ has been the subject of a number of other research reports. Jefferies Financial Group reduced their price target on Constellation Brands from $201.00 to $196.00 in a research report on Friday, April 11th. CJS Securities decreased their target price on shares of Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Piper Sandler lifted their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, June 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a research note on Thursday, June 5th. Finally, Royal Bank Of Canada decreased their price objective on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.91.

Constellation Brands Stock Performance

Shares of NYSE STZ traded down $0.16 during midday trading on Wednesday, hitting $161.37. 2,097,793 shares of the company's stock traded hands, compared to its average volume of 1,863,849. Constellation Brands has a 1 year low of $159.35 and a 1 year high of $264.45. The stock has a market capitalization of $28.73 billion, a price-to-earnings ratio of -316.41, a price-to-earnings-growth ratio of 8.93 and a beta of 0.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. The firm has a fifty day moving average of $179.85 and a 200 day moving average of $187.09.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) 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 firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts forecast that Constellation Brands will post 13.5 earnings per share for the current year.

Insider Activity

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.45% of the company's stock.

Hedge Funds Weigh In On Constellation Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company's stock worth $3,379,999,000 after buying an additional 2,882,817 shares during the last quarter. Capital World Investors grew its holdings in Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after purchasing an additional 324,690 shares during the last quarter. Berkshire Hathaway Inc purchased a new stake in Constellation Brands in the 4th quarter worth about $1,242,976,000. Wellington Management Group LLP lifted its stake in Constellation Brands by 127.9% in the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company's stock worth $822,314,000 after purchasing an additional 2,514,517 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock valued at $705,844,000 after buying an additional 63,323 shares during the period. Hedge funds and other institutional investors 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.