Constellation Brands (NYSE:STZ) Given New $262.00 Price Target at JPMorgan Chase & Co.

Constellation Brands (NYSE:STZ) had its target price trimmed by JPMorgan Chase & Co. from $293.00 to $262.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Barclays dropped their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. TD Cowen downgraded shares of 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 note on Tuesday, October 8th. Finally, BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.15.

Constellation Brands Stock Performance

Shares of STZ stock opened at $218.44 on Tuesday. Constellation Brands has a one year low of $217.52 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a 50 day moving average price of $233.49 and a 200 day moving average price of $242.46. The firm has a market capitalization of $39.66 billion, a price-to-earnings ratio of 70.69, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Insider Transactions at Constellation Brands

In related news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Hedge funds have recently made changes to their positions in the business. Oakworth Capital Inc. boosted its holdings in shares of Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after buying an additional 42 shares during the period. PFG Investments LLC raised its position in shares of Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after purchasing an additional 42 shares during the period. Brighton Jones LLC raised its stake in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares during the last quarter. Metis Global Partners LLC raised its stake in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after purchasing an additional 46 shares during the last quarter. Finally, Wellington Shields & Co. LLC raised its stake in Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds 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.