Constellation Brands (NYSE:STZ) Given New $262.00 Price Target at JPMorgan Chase & Co.

Constellation Brands (NYSE:STZ) had its price target reduced by JPMorgan Chase & Co. from $293.00 to $262.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday. UBS Group dropped their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Truist Financial dropped their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Bank of America reiterated a “neutral” rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Evercore ISI decreased their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $286.15.

Constellation Brands Trading Down 2.0 %

Shares of Constellation Brands stock opened at $218.44 on Tuesday. Constellation Brands has a 52-week low of $217.52 and a 52-week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company’s 50-day simple moving average is $233.49 and its 200-day simple moving average is $242.46. The firm has a market cap of $39.66 billion, a price-to-earnings ratio of 70.69, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Insider Buying and Selling at Constellation Brands

In other news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares during the last quarter. Legal & General Group Plc raised its position in shares of Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Institutional investors and hedge funds 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.