Constellation Brands (NYSE:STZ) Price Target Raised to $169.00

Constellation Brands (NYSE:STZ) had its price objective increased by research analysts at JPMorgan Chase & Co. from $168.00 to $169.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.60% from the company’s current price.

STZ has been the subject of several other reports. Morgan Stanley upped their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Barclays boosted their price objective on shares of Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. Wells Fargo & Company increased their target price on shares of Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $185.00 target price on shares of Constellation Brands in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.84.

Constellation Brands Stock Performance

NYSE STZ traded up $0.69 during trading on Thursday, hitting $143.71. The company’s stock had a trading volume of 112,191 shares, compared to its average volume of 2,248,164. Constellation Brands has a 52 week low of $126.45 and a 52 week high of $178.13. The firm has a market cap of $24.75 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 4.21 and a beta of 0.39. The firm has a 50 day moving average price of $147.64 and a 200 day moving average price of $150.30. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 earnings per share. Equities research analysts forecast that Constellation Brands will post 11.84 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.20% of the company’s stock.

Institutional Trading of Constellation Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STZ. Brighton Jones LLC grew its stake in shares of Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock valued at $221,000 after purchasing an additional 187 shares during the period. Woodline Partners LP bought a new position in shares of Constellation Brands during the 1st quarter worth approximately $2,409,000. Cary Street Partners Financial LLC boosted its stake in Constellation Brands by 69.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock valued at $167,000 after buying an additional 422 shares in the last quarter. Bank of Nova Scotia boosted its stake in Constellation Brands by 3.6% in the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock valued at $2,822,000 after buying an additional 599 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock valued at $3,861,000 after acquiring an additional 1,127 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.