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

Constellation Brands (NYSE:STZ) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $307.00 to $293.00 in a research 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 18.91% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Friday. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $295.75.

Constellation Brands Trading Up 1.1 %

STZ stock traded up $2.76 during midday trading on Friday, reaching $246.41. The company’s stock had a trading volume of 828,598 shares, compared to its average volume of 1,180,348. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. The stock has a market cap of $45.09 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $246.67 and its 200-day simple moving average is $253.64.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.21. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the firm earned $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Constellation Brands will post 13.53 EPS for the current year.

Insider Transactions at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’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 in the company, valued at approximately $706,266. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 in the last ninety days. Insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STZ. Park Avenue Securities LLC grew its position in shares of Constellation Brands by 23.3% during the 3rd quarter. Park Avenue Securities LLC now owns 4,362 shares of the company’s stock worth $1,124,000 after purchasing an additional 824 shares in the last quarter. Czech National Bank grew its position in shares of Constellation Brands by 4.0% during the 3rd quarter. Czech National Bank now owns 31,918 shares of the company’s stock worth $8,225,000 after purchasing an additional 1,239 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Constellation Brands by 5.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 52,589 shares of the company’s stock worth $13,552,000 after purchasing an additional 2,620 shares in the last quarter. Weybosset Research & Management LLC grew its position in shares of Constellation Brands by 12.1% during the 3rd quarter. Weybosset Research & Management LLC now owns 925 shares of the company’s stock worth $238,000 after purchasing an additional 100 shares in the last quarter. Finally, Appleton Partners Inc. MA grew its position in shares of Constellation Brands by 1.7% during the 3rd quarter. Appleton Partners Inc. MA now owns 35,147 shares of the company’s stock worth $9,057,000 after purchasing an additional 581 shares in 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.