Bank of America Corp. downgraded shares of Constellation Brands Inc. (NYSE:STZ) from a buy rating to an underperform rating in a research note issued to investors on Wednesday morning. The firm currently has $150.00 target price on the stock, down from their previous target price of $195.00.

Several other research firms have also commented on STZ. Citigroup Inc. reaffirmed a neutral rating and set a $191.00 price target (up previously from $180.00) on shares of Constellation Brands in a research report on Sunday, October 9th. Morgan Stanley reiterated an overweight rating and issued a $194.00 target price (up from $191.00) on shares of Constellation Brands in a research note on Saturday, October 8th. Pivotal Research reiterated a buy rating and issued a $200.00 target price on shares of Constellation Brands in a research note on Thursday, October 6th. Zacks Investment Research downgraded Constellation Brands from a buy rating to a hold rating in a research note on Tuesday, September 6th. Finally, RBC Capital Markets set a $181.00 target price on Constellation Brands and gave the company a buy rating in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $178.09.

Constellation Brands (NYSE:STZ) opened at 152.39 on Wednesday. The firm’s 50 day moving average is $165.56 and its 200-day moving average is $162.29. The firm has a market cap of $30.64 billion, a price-to-earnings ratio of 26.22 and a beta of 0.59. Constellation Brands has a 12 month low of $130.23 and a 12 month high of $173.55.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.65 by $0.12. The company had revenue of $2.02 billion for the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. On average, equities analysts forecast that Constellation Brands will post $6.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, November 4th. Constellation Brands’s dividend payout ratio is currently 27.49%.

In related news, VP Thomas J. Mullin sold 9,516 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $166.42, for a total value of $1,583,652.72. Following the completion of the transaction, the vice president now owns 88,602 shares of the company’s stock, valued at $14,745,144.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.63% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new stake in shares of Constellation Brands during the first quarter valued at about $57,704,000. Redwood Investments LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at about $14,966,000. Natixis boosted its stake in shares of Constellation Brands by 1,155.2% in the first quarter. Natixis now owns 305,995 shares of the company’s stock valued at $46,233,000 after buying an additional 281,616 shares during the last quarter. CIBC World Markets Inc. boosted its stake in shares of Constellation Brands by 42.4% in the second quarter. CIBC World Markets Inc. now owns 76,159 shares of the company’s stock valued at $12,597,000 after buying an additional 22,676 shares during the last quarter. Finally, Hilton Capital Management LLC boosted its stake in shares of Constellation Brands by 3.4% in the second quarter. Hilton Capital Management LLC now owns 74,930 shares of the company’s stock valued at $12,393,000 after buying an additional 2,437 shares during the last quarter. 75.01% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Company Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

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