Constellation Brands, Inc. (NYSE:STZ) EVP Sells $370,810.70 in Stock

Constellation Brands, Inc. (NYSE:STZ) EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Constellation Brands Trading Down 1.5 %

NYSE:STZ opened at $240.04 on Friday. The firm has a market capitalization of $43.92 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.70 and a beta of 1.75. 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 has a fifty day moving average of $246.51 and a 200 day moving average of $251.75. Constellation Brands, Inc. has a 52 week low of $227.64 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.70 earnings per share. On average, research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares during the period. Capital International Investors lifted its holdings in Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors grew its holdings in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the period. Capital Research Global Investors grew its stake in Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after purchasing an additional 222,380 shares during the period. Finally, Legal & General Group Plc grew its holdings in Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the period. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

STZ has been the topic of a number of recent analyst reports. UBS Group lowered their target price 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 lowered their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, BMO Capital Markets cut their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $290.47.

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.