Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,647 shares of the company’s stock after selling 531 shares during the period. Salem Investment Counselors Inc.’s holdings in Constellation Brands were worth $5,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands during the second quarter worth approximately $36,000. Eastern Bank purchased a new stake in Constellation Brands during the third quarter worth approximately $39,000. Versant Capital Management Inc grew its stake in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares during the period. FSA Wealth Management LLC purchased a new stake in Constellation Brands during the third quarter worth approximately $42,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Constellation Brands during the second quarter worth approximately $57,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,446 shares of company stock worth $45,687,281 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, January 7th. Jefferies Financial Group restated a “hold” rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday. Finally, Bank of America restated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.05.

Constellation Brands Stock Performance

Shares of STZ stock traded up $4.60 during trading hours on Monday, reaching $186.41. The stock had a trading volume of 2,813,899 shares, compared to its average volume of 2,853,202. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a twelve month low of $176.51 and a twelve month high of $274.87. The firm has a 50-day simple moving average of $231.88 and a 200-day simple moving average of $241.28. The firm has a market capitalization of $33.84 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.17%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Constellation Brands Company Profile

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.