Constellation Brands (NYSE:STZ) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Constellation Brands (NYSE:STZ) in a research report report published on Friday morning. The brokerage issued a neutral rating and a $153.00 price objective on the stock.

STZ has been the subject of a number of other research reports. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. BNP Paribas Exane downgraded Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target on the stock. in a research report on Wednesday, September 3rd. Citigroup lowered their price objective on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 target price on shares of Constellation Brands in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Stock Down 0.3%

Shares of STZ traded down $0.43 during trading hours on Friday, hitting $127.52. The company had a trading volume of 3,758,677 shares, compared to its average volume of 2,517,363. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $22.32 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 0.39 and a beta of 0.63. Constellation Brands has a one year low of $126.64 and a one year high of $245.31. The company’s fifty day moving average price is $138.33 and its two-hundred day moving average price is $161.64.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The company had revenue of $2.32 billion for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. As a group, equities analysts forecast that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.2%. Constellation Brands’s payout ratio is 59.56%.

Hedge Funds Weigh In On Constellation Brands

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares during the period. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 2,514,517 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Constellation Brands by 650.6% in the second quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after purchasing an additional 1,533,961 shares during the last quarter. Norges Bank acquired a new stake in Constellation Brands during the 2nd quarter worth about $239,737,000. Finally, Berkshire Hathaway Inc raised its stake in shares of Constellation Brands by 11.6% during the 2nd quarter. Berkshire Hathaway Inc now owns 13,400,000 shares of the company’s stock valued at $2,179,912,000 after buying an additional 1,391,000 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.