JPMorgan Chase & Co. Lowers Constellation Brands (NYSE:STZ) Price Target to $291.00

Constellation Brands (NYSE:STZ) had its price objective trimmed by JPMorgan Chase & Co. from $296.00 to $291.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Argus raised shares of Constellation Brands from a hold rating to a buy rating and set a $306.00 target price for the company in a report on Monday, April 15th. Roth Mkm reaffirmed a buy rating and issued a $305.00 target price on shares of Constellation Brands in a report on Friday, April 12th. Evercore ISI increased their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an outperform rating in a report on Friday, April 12th. Royal Bank of Canada reiterated an outperform rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, May 28th. Finally, BMO Capital Markets increased their price target on shares of Constellation Brands from $290.00 to $315.00 and gave the company an outperform rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $298.37.

Constellation Brands Stock Performance

Shares of STZ stock opened at $263.50 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average price of $255.18 and a 200 day moving average price of $252.94. The company has a market cap of $48.22 billion, a P/E ratio of 28.09, a PEG ratio of 1.75 and a beta of 0.89. Constellation Brands has a 12 month low of $227.50 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands will post 13.66 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

Insider Activity

In related news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,031 shares of company stock valued at $12,582,321. Company insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BKM Wealth Management LLC bought a new position in Constellation Brands in the 4th quarter worth about $28,000. Asset Dedication LLC lifted its stake in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $35,000. First Financial Corp IN purchased a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $35,000. Finally, LRI Investments LLC acquired a new position in Constellation Brands in the 1st quarter valued at approximately $37,000. 77.34% of the stock is owned by institutional investors and hedge funds.

About Constellation Brands

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.