Constellation Brands (NYSE:STZ) Given New $140.00 Price Target at Wells Fargo & Company

Constellation Brands (NYSE:STZ) had its target price trimmed by Wells Fargo & Company from $170.00 to $140.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on STZ. Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a report on Friday, July 31st. Needham & Company LLC reissued a “buy” rating and set a $185.00 price objective on shares of Constellation Brands in a report on Thursday, July 2nd. Citigroup lowered their target price on shares of Constellation Brands from $185.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Bank of America dropped their target price on shares of Constellation Brands from $152.00 to $145.00 and set an “underperform” rating for the company in a report on Thursday, July 2nd. Finally, Roth Capital reaffirmed a “buy” rating and issued a $209.00 target price on shares of Constellation Brands in a report on Thursday, July 2nd. Eleven 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $157.40.

Constellation Brands Price Performance

Constellation Brands stock opened at $113.28 on Monday. Constellation Brands has a one year low of $110.60 and a one year 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 business has a fifty day moving average of $126.62 and a two-hundred day moving average of $138.90. The company has a market cap of $19.35 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Ally Financial Inc. acquired a new position in Constellation Brands in the 2nd quarter valued at $1,600,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Constellation Brands during the 2nd quarter worth $31,582,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Constellation Brands by 1,613.6% during the second quarter. Concurrent Investment Advisors LLC now owns 27,915 shares of the company’s stock worth $3,883,000 after purchasing an additional 26,286 shares during the last quarter. CORDA Investment Management LLC. boosted its holdings in shares of Constellation Brands by 12.6% during the first quarter. CORDA Investment Management LLC. now owns 140,050 shares of the company’s stock worth $21,008,000 after purchasing an additional 15,694 shares during the last quarter. Finally, Amundi grew its position 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 period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands News Summary

Here are the key news stories impacting Constellation Brands this week:

• Positive Sentiment: Wells Fargo lowered its price target from $170 to $140 but maintained an “overweight” rating, implying substantial potential upside from current levels. The continued bullish rating suggests the firm views the selloff as excessive if Constellation can stabilize its business. Constellation Brands Price Target Cut by Wells Fargo
• Positive Sentiment: Constellation’s approximately 3.6% dividend yield may appeal to income-focused investors while the stock trades at a relatively low valuation. However, earnings performance and the sustainability of the dividend remain important considerations. Constellation Brands Dividend Ahead of Earnings
• Neutral Sentiment: Analysts expect quarterly earnings per share of roughly $3.56. The report is likely to determine whether the company’s valuation and dividend can attract buyers or whether additional estimates and price targets are reduced. What to Expect From Constellation Brands Earnings
• Neutral Sentiment: Commentary from Jim Cramer and other previews emphasizes that investors will be watching management’s outlook and business trends—not just the headline results—for signs of a turnaround in the Corona and Modelo owner’s performance. Jim Cramer Looks Beyond the Numbers
• Negative Sentiment: The stock’s slide to 11-year lows has prompted warnings that investors may be trying to “catch a falling knife,” reflecting concerns about weakening sales, consumer demand and the risk of further earnings-estimate cuts. Constellation Brands Q2 Preview
• Negative Sentiment: Wells Fargo’s sizable target reduction from $170 to $140 signals that analysts have lowered their expectations, even though the firm remains positive on the shares.

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.