Constellation Brands (NYSE:STZ) Price Target Cut to $262.00 by Analysts at JPMorgan Chase & Co.

Constellation Brands (NYSE:STZ) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $293.00 to $262.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 18.93% from the stock’s current price.

STZ has been the subject of several other research reports. Wells Fargo & Company dropped 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 report on Tuesday. BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Needham & Company LLC reissued a “buy” rating and set a $280.00 target price on shares of Constellation Brands in a research note on Friday, December 20th. BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. Finally, Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $286.15.

Constellation Brands Price Performance

Constellation Brands stock traded down $2.64 during mid-day trading on Tuesday, hitting $220.29. 846,478 shares of the company were exchanged, compared to its average volume of 1,416,516. The business has a fifty day moving average of $233.85 and a 200 day moving average of $242.78. 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 1-year low of $217.52 and a 1-year high of $274.87. The company has a market capitalization of $40.00 billion, a PE ratio of 71.29, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Insiders Place Their Bets

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $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 a total of 189,956 shares of company stock valued at $46,058,091 in the last quarter. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of STZ. Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands in the second quarter worth $36,000. Wellington Shields & Co. LLC increased its stake in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares in the last quarter. Eastern Bank purchased a new position in Constellation Brands during the 3rd quarter valued at about $39,000. Versant Capital Management Inc grew its holdings in Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. Finally, FSA Wealth Management LLC bought a new position in shares of Constellation Brands during the third quarter valued at 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.