James A. Jr. Sabia Sells 15,781 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Constellation Brands Price Performance

Constellation Brands stock traded up $0.14 during midday trading on Wednesday, reaching $257.92. The company’s stock had a trading volume of 988,733 shares, compared to its average volume of 1,267,608. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 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. The business has a 50-day moving average price of $257.25 and a 200-day moving average price of $247.05. The stock has a market cap of $47.15 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s payout ratio is 37.95%.

Wall Street Analyst Weigh In

STZ has been the subject of a number of research reports. Barclays lifted their target price on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada lifted their target price on Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a report on Monday. Piper Sandler initiated coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price for the company. Finally, HSBC lifted their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Impact Partnership Wealth LLC grew its holdings in shares of Constellation Brands by 1,175.0% during the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Constellation Brands in the fourth quarter worth approximately $28,000. Asset Dedication LLC lifted its stake in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares during the period. First Financial Corp IN acquired a new position in shares of Constellation Brands in the first quarter worth approximately $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands in the fourth quarter worth approximately $35,000. 77.34% of the stock is currently owned by institutional investors.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.