Constellation Brands, Inc. (NYSE:STZ) Short Interest Down 33.7% in August

Constellation Brands, Inc. (NYSE:STZ) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,380,000 shares, a decline of 33.7% from the August 15th total of 3,590,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.6% of the shares of the stock are short sold.

Constellation Brands Stock Performance

NYSE:STZ traded up $0.96 during trading hours on Monday, reaching $253.53. The company had a trading volume of 875,955 shares, compared to its average volume of 1,174,184. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average price is $245.91 and its 200-day moving average price is $253.90. Constellation Brands has a 52 week low of $227.50 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.67 billion. During the same period last year, the business posted $2.91 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts forecast that Constellation Brands will post 13.53 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Buying and Selling

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The stock was 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 directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 in the last quarter. 12.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Constellation Brands

A number of institutional investors and hedge funds have recently made changes to their positions in STZ. Sanctuary Advisors LLC bought a new position in Constellation Brands in the 2nd quarter worth $16,327,000. Brown Financial Advisors purchased a new stake in Constellation Brands in the second quarter worth about $710,000. Strategic Investment Solutions Inc. IL bought a new stake in Constellation Brands during the 2nd quarter worth approximately $285,000. Souders Financial Advisors bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $3,067,000. Finally, Cetera Investment Advisers raised its holdings in Constellation Brands by 9.4% during the second quarter. Cetera Investment Advisers now owns 44,541 shares of the company’s stock valued at $11,460,000 after acquiring an additional 3,825 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. UBS Group cut their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Roth Mkm lowered their price target on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $296.78.

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.