Constellation Brands (NYSE:STZ) Given New $194.00 Price Target at JPMorgan Chase & Co.

Constellation Brands (NYSE:STZ - Free Report) had its target price cut by JPMorgan Chase & Co. from $203.00 to $194.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

STZ has been the topic of several other reports. Royal Bank of Canada dropped their price target on shares of Constellation Brands from $293.00 to $289.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. BMO Capital Markets dropped their target price on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday. Citigroup cut Constellation Brands from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $260.00 to $200.00 in a report on Thursday, March 20th. StockNews.com upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research note on Wednesday, April 9th. Finally, Evercore ISI reduced their target price on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $228.50.

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Constellation Brands Stock Up 1.0 %

Shares of NYSE STZ traded up $1.78 during midday trading on Friday, reaching $187.41. The company's stock had a trading volume of 2,025,205 shares, compared to its average volume of 1,694,560. The stock has a 50 day simple moving average of $176.86 and a 200-day simple moving average of $208.70. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $33.87 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands has a fifty-two week low of $160.46 and a fifty-two week high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business earned $2.26 EPS. The company's revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that Constellation Brands will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be paid a $1.02 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Tuesday, April 29th. Constellation Brands's payout ratio is -792.16%.

Insiders Place Their Bets

In other news, Director William T. Giles bought 1,000 shares of the firm's stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.19% of the company's stock.

Institutional Investors Weigh In On Constellation Brands

Large investors have recently modified their holdings of the business. Mainstream Capital Management LLC acquired a new position in Constellation Brands during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands during the 4th quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new position in Constellation Brands in the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA acquired a new stake in Constellation Brands in the fourth quarter valued at approximately $28,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth $29,000. 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.