Robert Sands Sells 119,274 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Constellation Brands Price Performance

Shares of STZ stock traded up $1.48 on Friday, hitting $241.52. 1,644,472 shares of the company’s stock were exchanged, compared to its average volume of 1,192,825. The company has a 50 day moving average of $246.51 and a 200 day moving average of $251.75. The stock has a market cap of $44.19 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.67%. Constellation Brands’s payout ratio is presently 30.10%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. New Millennium Group LLC acquired a new position in Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands in the 2nd quarter valued at approximately $32,000. First Financial Corp IN bought a new stake in Constellation Brands during the 1st quarter worth approximately $35,000. Finally, LRI Investments LLC acquired a new position in Constellation Brands in the 1st quarter valued at approximately $37,000. 77.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STZ has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Jefferies Financial Group increased their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. UBS Group dropped their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Truist Financial reduced their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Finally, Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

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.