Constellation Brands (NYSE:STZ) Price Target Cut to $307.00

Constellation Brands (NYSE:STZ) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $320.00 to $307.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 24.40% from the stock’s previous close.

Several other brokerages also recently commented on STZ. Jefferies Financial Group upped their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Truist Financial reaffirmed a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. UBS Group upped their price target on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Finally, Barclays increased their price objective on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $298.53.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded up $6.07 during trading on Tuesday, hitting $246.78. The stock had a trading volume of 1,586,474 shares, compared to its average volume of 1,175,151. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a market cap of $45.15 billion, a P/E ratio of 18.39, a PEG ratio of 1.59 and a beta of 1.75. The business has a fifty day moving average of $247.24 and a two-hundred day moving average of $253.68. Constellation Brands has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.91 earnings per share. On average, sell-side analysts expect that Constellation Brands will post 13.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. 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 insiders.

Institutional Trading of Constellation Brands

Institutional investors have recently bought and sold shares of the stock. New Millennium Group LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the 2nd quarter valued at $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands in the 1st quarter valued at $35,000. Finally, First Financial Corp IN bought a new position in Constellation Brands in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.