JPMorgan Chase & Co. Has Lowered Expectations for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price target decreased by JPMorgan Chase & Co. from $293.00 to $262.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.54% from the stock’s current price.

STZ has been the topic of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday. BMO Capital Markets cut their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday. Bank of America restated a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Barclays decreased their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $284.75.

Constellation Brands Price Performance

STZ opened at $219.17 on Tuesday. The firm has a market capitalization of $39.79 billion, a PE ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The business’s 50-day moving average is $233.17 and its two-hundred day moving average is $242.30. Constellation Brands has a 1 year low of $217.47 and a 1 year high of $274.87.

Insider Activity at Constellation Brands

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

Institutional Trading of Constellation Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands in the second quarter valued at approximately $36,000. Wellington Shields & Co. LLC lifted its position in shares of Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Eastern Bank acquired a new stake in shares of Constellation Brands in the third quarter worth approximately $39,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Constellation Brands during the third quarter worth approximately $42,000. Hedge funds and other institutional investors 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.