JPMorgan Chase & Co. Lowers Constellation Brands (NYSE:STZ) Price Target to $262.00

Constellation Brands (NYSE:STZ) had its price target dropped by research analysts at JPMorgan Chase & Co. from $293.00 to $262.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 19.54% from the company’s current price.

A number of other equities analysts also recently weighed in on STZ. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company reduced their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Barclays lowered their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.75.

Constellation Brands Stock Performance

Shares of STZ stock opened at $219.17 on Tuesday. 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 stock has a fifty day moving average of $233.17 and a 200 day moving average of $242.30. The firm has a market capitalization of $39.79 billion, a price-to-earnings ratio of 70.93, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands has a 52 week low of $217.47 and a 52 week high of $274.87.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its holdings in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the last quarter. State Street Corp boosted its position in Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares during the period. Dimensional Fund Advisors LP grew its stake in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares in the last quarter. NFJ Investment Group LLC increased its position in shares of Constellation Brands by 617.3% during the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after acquiring an additional 93,273 shares during the period. Finally, World Investment Advisors LLC raised its stake in shares of Constellation Brands by 4,601.2% during the third quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock valued at $22,618,000 after acquiring an additional 85,904 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

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.