JPMorgan Chase & Co. Cuts Constellation Brands (NYSE:STZ) Price Target to $293.00

Constellation Brands (NYSE:STZ) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $307.00 to $293.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.78% from the company’s current price.

Several other analysts have also commented on the company. Truist Financial decreased their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday. UBS Group reduced their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday. BMO Capital Markets restated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.75.

Constellation Brands Trading Up 1.2 %

Shares of STZ stock opened at $246.67 on Friday. The firm has a fifty day moving average of $246.53 and a 200-day moving average of $253.39. The stock has a market cap of $45.13 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.74 and a beta of 1.75. Constellation Brands has a 52-week low of $227.50 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.70 earnings per share. On average, equities research analysts forecast that Constellation Brands will post 13.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Institutional investors have recently modified their holdings of the stock. Rafferty Asset Management LLC increased its stake in Constellation Brands by 4.4% in the fourth quarter. Rafferty Asset Management LLC now owns 12,541 shares of the company’s stock valued at $3,032,000 after purchasing an additional 525 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Constellation Brands by 3.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 10,496 shares of the company’s stock worth $2,537,000 after acquiring an additional 367 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Constellation Brands by 64.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,339 shares of the company’s stock worth $4,675,000 after acquiring an additional 7,589 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Constellation Brands by 2.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,256 shares of the company’s stock valued at $1,271,000 after acquiring an additional 121 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Constellation Brands by 18.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 9,953 shares of the company’s stock worth $2,406,000 after purchasing an additional 1,542 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.