JPMorgan Chase & Co. Cuts Constellation Brands (NYSE:STZ) Price Target to $262.00

Constellation Brands (NYSE:STZ) had its target price lowered by JPMorgan Chase & Co. from $293.00 to $262.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

STZ has been the topic of several other reports. UBS Group cut their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. BNP Paribas assumed coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Truist Financial dropped their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $284.75.

Constellation Brands Stock Performance

Shares of STZ opened at $219.17 on Tuesday. The firm has a market cap of $39.79 billion, a price-to-earnings ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company’s fifty day moving average is $232.90 and its 200-day moving average is $242.14. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands has a 12 month low of $217.47 and a 12 month high of $274.87.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.84%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last three months. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands during the second quarter valued at $36,000. Wellington Shields & Co. LLC raised its holdings in Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Eastern Bank acquired a new position in Constellation Brands during the 3rd quarter valued at about $39,000. Versant Capital Management Inc grew its position in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in shares of Constellation Brands during the third quarter worth approximately $42,000. 77.34% of the stock is currently owned by 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.