Constellation Brands (NYSE:STZ) Trading Down 2.8%

Constellation Brands, Inc. (NYSE:STZ) traded down 2.8% during mid-day trading on Wednesday . The stock traded as low as $251.11 and last traded at $251.80. 1,333,320 shares traded hands during trading, an increase of 12% from the average session volume of 1,194,493 shares. The stock had previously closed at $258.94.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. BMO Capital Markets increased their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Argus upgraded shares of 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, April 15th. Barclays dropped their target price on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Finally, Piper Sandler began coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target for the company. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.63.

Constellation Brands Stock Performance

The firm has a market cap of $45.81 billion, a PE ratio of 26.69, a PEG ratio of 1.71 and a beta of 0.87. 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 firm’s 50 day simple moving average is $255.22 and its 200 day simple moving average is $254.02.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.91 EPS. On average, research analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio is presently 43.07%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction dated 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 completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 over the last three months. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Orion Portfolio Solutions LLC raised its position in shares of Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after buying an additional 39 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Constellation Brands by 16.5% during the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after purchasing an additional 41 shares in the last quarter. Burns Matteson Capital Management LLC boosted its stake in Constellation Brands by 1.7% in the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after acquiring an additional 42 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in Constellation Brands by 1.8% in the fourth quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after acquiring an additional 42 shares in the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in Constellation Brands by 3.5% in the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after acquiring an additional 43 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other 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 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.