Insider Selling: Constellation Brands, Inc. (NYSE:STZ) CEO Sells 7,426 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Constellation Brands Trading Down 1.3 %

Shares of NYSE:STZ traded down $3.17 during mid-day trading on Thursday, reaching $232.30. The stock had a trading volume of 1,263,891 shares, compared to its average volume of 1,185,784. The firm has a 50 day simple moving average of $245.91 and a two-hundred day simple moving average of $250.00. Constellation Brands, Inc. has a twelve month low of $232.08 and a twelve month high of $274.87. The firm has a market cap of $42.18 billion, a PE ratio of 75.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 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, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the business posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.74%. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STZ shares. Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Bank of America restated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Barclays reduced their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Evercore ISI lowered their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Capital International Investors boosted its stake in Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors increased its holdings in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after purchasing an additional 222,380 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

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.