JPMorgan Chase & Co. Cuts Constellation Brands (NYSE:STZ) Price Target to $194.00

Constellation Brands (NYSE:STZ) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $203.00 to $194.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.51% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Roth Capital decreased their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Citigroup cut shares of Constellation Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. TD Cowen lowered their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their target price on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $231.10.

Constellation Brands Trading Up 0.5 %

STZ stock opened at $185.63 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands has a 1-year low of $160.46 and a 1-year high of $270.18. The business has a 50 day simple moving average of $176.86 and a two-hundred day simple moving average of $209.03. The company has a market capitalization of $33.55 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $2.26 earnings per share. Research analysts anticipate that Constellation Brands will post 13.5 EPS for the current fiscal year.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds have recently made changes to their positions in STZ. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the period. Capital World Investors increased its position in Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock valued at $2,155,946,000 after purchasing an additional 324,690 shares during the period. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $1,242,976,000. Geode Capital Management LLC lifted its position in shares of Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after purchasing an additional 63,323 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock valued at $641,336,000 after purchasing an additional 18,557 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

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.