Constellation Brands (NYSE:STZ) Sets New 52-Week Low on Analyst Downgrade

Constellation Brands, Inc. (NYSE:STZ) shares reached a new 52-week low during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $300.00 to $282.00. Barclays currently has an overweight rating on the stock. Constellation Brands traded as low as $217.47 and last traded at $219.26, with a volume of 78160 shares changing hands. The stock had previously closed at $218.51.

A number of other equities research analysts have also weighed in on STZ. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a report on Tuesday. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $285.25.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Candriam S.C.A. raised its holdings in shares of Constellation Brands by 2.5% during the second quarter. Candriam S.C.A. now owns 9,779 shares of the company’s stock valued at $2,516,000 after acquiring an additional 236 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Constellation Brands by 2,614.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 31,649 shares of the company’s stock worth $81,000 after acquiring an additional 30,483 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Constellation Brands by 494.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock worth $973,000 after acquiring an additional 3,152 shares during the period. Caprock Group LLC boosted its position in shares of Constellation Brands by 15.5% during the 2nd quarter. Caprock Group LLC now owns 3,642 shares of the company’s stock valued at $937,000 after acquiring an additional 489 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Constellation Brands by 14.4% in the second quarter. Ballentine Partners LLC now owns 2,960 shares of the company’s stock valued at $762,000 after purchasing an additional 372 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Up 0.3 %

The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average is $233.49 and its 200-day moving average is $242.46. The stock has a market capitalization of $39.80 billion, a price-to-earnings ratio of 70.95, a PEG ratio of 1.69 and a beta of 1.75.

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.