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

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

A number of other brokerages also recently commented on STZ. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a hold rating on the stock in a research note on Friday. UBS Group decreased their price target on shares of Constellation Brands from $320.00 to $295.00 and set a buy rating on the stock in a research report on Monday, September 9th. BMO Capital Markets restated an outperform rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Roth Mkm reaffirmed a buy rating and issued a $298.00 price target on shares of Constellation Brands in a research note on Friday. Finally, Morgan Stanley cut their price objective on Constellation Brands from $305.00 to $280.00 and set an overweight rating for the company in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has an average rating of Moderate Buy and a consensus price target of $295.75.

Constellation Brands Trading Up 1.2 %

Constellation Brands stock opened at $246.67 on Friday. Constellation Brands has a 1 year low of $227.50 and a 1 year high of $274.87. The firm’s 50 day moving average price is $246.53 and its two-hundred day moving average price is $253.29. The firm has a market cap of $45.13 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.64%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Insider Activity at Constellation Brands

In related news, 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 value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by corporate insiders.

Institutional Trading of Constellation Brands

Hedge funds have recently added to or reduced their stakes in the company. Mirador Capital Partners LP raised its position in shares of Constellation Brands by 6.0% in the third quarter. Mirador Capital Partners LP now owns 5,429 shares of the company’s stock valued at $1,399,000 after buying an additional 308 shares in the last quarter. Park Avenue Securities LLC increased its position in Constellation Brands by 23.3% during the 3rd quarter. Park Avenue Securities LLC now owns 4,362 shares of the company’s stock valued at $1,124,000 after purchasing an additional 824 shares during the period. Czech National Bank boosted its position in Constellation Brands by 4.0% during the third quarter. Czech National Bank now owns 31,918 shares of the company’s stock valued at $8,225,000 after acquiring an additional 1,239 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Constellation Brands by 5.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 52,589 shares of the company’s stock valued at $13,552,000 after purchasing an additional 2,620 shares during the period. Finally, Weybosset Research & Management LLC boosted its holdings in Constellation Brands by 12.1% in the third quarter. Weybosset Research & Management LLC now owns 925 shares of the company’s stock worth $238,000 after acquiring an additional 100 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Company Profile

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.