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

Constellation Brands (NYSE:STZ) had its price target dropped by analysts at JPMorgan Chase & Co. from $307.00 to $293.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.78% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. 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. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday. Roth Mkm reiterated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $295.75.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $246.67 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company has a market capitalization of $45.13 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The stock has a fifty day moving average of $246.53 and a 200-day moving average of $253.39. Constellation Brands has a one year low of $227.50 and a one year high of $274.87.

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

Insider Buying and Selling at Constellation Brands

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

Hedge Funds Weigh In On Constellation Brands

Large investors have recently made changes to their positions in the business. Orion Portfolio Solutions LLC increased its position in Constellation Brands by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after buying an additional 39 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares during the period. Brighton Jones LLC grew its position in Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after purchasing an additional 43 shares during the last quarter. RDA Financial Network increased its holdings in shares of Constellation Brands by 2.3% during the 1st quarter. RDA Financial Network now owns 1,923 shares of the company’s stock worth $523,000 after purchasing an additional 44 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its position in shares of Constellation Brands by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after buying an additional 44 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.