JPMorgan Chase & Co. Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target reduced by analysts at JPMorgan Chase & Co. from $173.00 to $153.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.84% from the stock’s previous close.

STZ has been the subject of several other reports. Barclays restated an “equal weight” rating and set a $150.00 price objective (down from $202.00) on shares of Constellation Brands in a research report on Friday, September 12th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. BMO Capital Markets decreased their price target on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Bank of America lowered their price objective on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a research report on Wednesday, September 3rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Constellation Brands in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $186.44.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $143.20 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.68 and a debt-to-equity ratio of 1.26. The company has a market cap of $25.24 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 0.43 and a beta of 0.66. The company has a 50 day moving average of $151.28 and a 200-day moving average of $168.44. Constellation Brands has a 1-year low of $131.20 and a 1-year high of $247.63.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Monday, October 6th. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $3.37 by $0.26. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the business earned $4.32 earnings per share. The company’s revenue was down 15.0% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.45% of the stock is owned by insiders.

Institutional Trading of Constellation Brands

A number of large investors have recently bought and sold shares of STZ. Brighton Jones LLC grew its stake in Constellation Brands by 23.0% during the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after purchasing an additional 187 shares during the period. Courier Capital LLC bought a new position in shares of Constellation Brands during the 1st quarter worth approximately $201,000. Farther Finance Advisors LLC grew its position in shares of Constellation Brands by 179.2% during the 1st quarter. Farther Finance Advisors LLC now owns 2,069 shares of the company’s stock worth $382,000 after buying an additional 1,328 shares during the period. Pallas Capital Advisors LLC bought a new stake in shares of Constellation Brands in the 1st quarter valued at $251,000. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after acquiring an additional 815 shares during the period. 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.