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

Constellation Brands (NYSE:STZ) had its target price cut by JPMorgan Chase & Co. from $307.00 to $293.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on STZ. Roth Mkm reaffirmed a buy rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday. UBS Group reduced their price target on Constellation Brands from $320.00 to $295.00 and set a buy rating on the stock in a research report on Monday, September 9th. Barclays upped their price objective on Constellation Brands from $295.00 to $309.00 and gave the company an overweight rating in a report on Tuesday, September 24th. Royal Bank of Canada restated an outperform rating and set a $308.00 target price on shares of Constellation Brands in a report on Friday. Finally, Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a hold rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $292.38.

Constellation Brands Stock Down 1.5 %

NYSE STZ opened at $243.07 on Friday. The stock has a market capitalization of $44.48 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87. 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 stock has a fifty day moving average of $246.53 and a 200-day moving average of $253.29.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the company earned $3.70 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands will post 13.53 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Constellation Brands 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 sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The trade was 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 valued at $3,982,922 in the last 90 days. 12.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STZ. Orion Portfolio Solutions LLC lifted its holdings in Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after purchasing an additional 39 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Constellation Brands by 16.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after buying an additional 41 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the period. RDA Financial Network raised its holdings in Constellation Brands by 2.3% in the 1st quarter. RDA Financial Network now owns 1,923 shares of the company’s stock valued at $523,000 after acquiring an additional 44 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its position in Constellation Brands by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock worth $285,000 after acquiring an additional 44 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.