Constellation Brands (NYSE:STZ) Given New $170.00 Price Target at JPMorgan Chase & Co.

Constellation Brands (NYSE:STZ) had its target price reduced by JPMorgan Chase & Co. from $194.00 to $170.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

STZ has been the topic of several other reports. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. DA Davidson lowered their price target on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on shares of Constellation Brands from $210.00 to $196.00 and set an “overweight” rating on the stock in a report on Wednesday. Piper Sandler boosted their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, June 6th. Finally, Bernstein Bank lowered their price target on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.91.

Constellation Brands Trading Down 0.1%

NYSE STZ opened at $161.37 on Thursday. Constellation Brands has a twelve month low of $159.35 and a twelve month high of $264.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. The stock has a market cap of $28.73 billion, a price-to-earnings ratio of -316.41, a PEG ratio of 8.93 and a beta of 0.70. The firm’s 50 day moving average price is $179.35 and its two-hundred day moving average price is $186.52.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the company posted $2.26 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.53%. Constellation Brands’s payout ratio is currently -800.00%.

Insiders Place Their Bets

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STZ. Berkshire Hathaway Inc acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $1,242,976,000. Vanguard Group Inc. boosted its stake in Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock valued at $3,379,999,000 after acquiring an additional 2,882,817 shares during the last quarter. Wellington Management Group LLP boosted its stake in Constellation Brands by 127.9% in the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after acquiring an additional 2,514,517 shares during the last quarter. Norges Bank bought a new position in Constellation Brands in the fourth quarter valued at approximately $445,883,000. Finally, D1 Capital Partners L.P. boosted its stake in Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after acquiring an additional 994,639 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

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.