Constellation Brands (NYSE:STZ) Price Target Increased to $320.00 by Analysts at JPMorgan Chase & Co.

Constellation Brands (NYSE:STZ) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $291.00 to $320.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 27.74% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. HSBC raised their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a research note on Monday, April 15th. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. Piper Sandler assumed coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Finally, Jefferies Financial Group boosted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $300.16.

Constellation Brands Trading Up 0.1 %

Shares of NYSE:STZ opened at $250.50 on Friday. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. The company’s 50 day moving average is $254.77 and its two-hundred day moving average is $253.97. The company has a market cap of $45.84 billion, a PE ratio of 26.69, a P/E/G ratio of 1.66 and a beta of 0.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the business earned $2.91 EPS. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts predict that Constellation Brands will post 13.67 earnings per share for the current fiscal year.

Insider Activity

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock valued at $12,582,321 in the last three months. 12.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently made changes to their positions in STZ. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Capital International Investors raised its position in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. Morgan Stanley lifted its stake in Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after buying an additional 58,518 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares during 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.