Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Morton Community Bank

Morton Community Bank raised its position in Constellation Brands, Inc. (NYSE:STZ) by 7.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,310 shares of the company’s stock after purchasing an additional 858 shares during the period. Morton Community Bank’s holdings in Constellation Brands were worth $3,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in STZ. New Millennium Group LLC acquired a new stake in shares of Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the second quarter worth $32,000. YHB Investment Advisors Inc. bought a new stake in Constellation Brands in the first quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Constellation Brands in the fourth quarter valued at $35,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on STZ shares. UBS Group lifted their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Truist Financial reiterated a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $298.17.

Constellation Brands Stock Up 0.3 %

NYSE:STZ traded up $0.72 during trading hours on Friday, hitting $249.01. 1,171,782 shares of the stock traded hands, compared to its average volume of 1,176,895. The firm has a 50 day moving average price of $246.35 and a 200 day moving average price of $253.71. The firm has a market cap of $45.56 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.59 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm earned $2.91 earnings per share. Constellation Brands’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.54 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands 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.