Arvest Bank Trust Division Invests $243,000 in Constellation Brands, Inc. (NYSE:STZ)

Arvest Bank Trust Division bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 944 shares of the company’s stock, valued at approximately $243,000.

A number of other large investors have also recently made changes to their positions in the stock. New Millennium Group LLC bought a new position in Constellation Brands during the 2nd quarter worth about $25,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter worth $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter valued at about $36,000. Wellington Shields & Co. LLC increased its position in shares of Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after buying an additional 50 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Constellation Brands in the 3rd quarter worth $39,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 0.2 %

Shares of Constellation Brands stock opened at $239.44 on Friday. The company’s 50-day simple moving average is $239.13 and its 200-day simple moving average is $246.08. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 77.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

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

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insiders Place Their Bets

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on 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 transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 189,956 shares of company stock valued at $46,058,091. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STZ. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Evercore ISI decreased their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. BNP Paribas initiated coverage on Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. Finally, Truist Financial decreased their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $288.70.

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.