Central Bank & Trust Co. Sells 64 Shares of Constellation Brands, Inc. (NYSE:STZ)

Central Bank & Trust Co. lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 4.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,235 shares of the company’s stock after selling 64 shares during the quarter. Central Bank & Trust Co.’s holdings in Constellation Brands were worth $318,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in Constellation Brands during the 1st quarter valued at $45,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Constellation Brands by 69.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,045 shares of the company’s stock valued at $284,000 after purchasing an additional 428 shares during the period. 9258 Wealth Management LLC bought a new position in shares of Constellation Brands in the first quarter worth about $218,000. Howland Capital Management LLC increased its stake in Constellation Brands by 3.0% in the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock worth $38,403,000 after buying an additional 4,051 shares during the period. Finally, First Long Island Investors LLC lifted its holdings in Constellation Brands by 1.1% during the 1st quarter. First Long Island Investors LLC now owns 24,320 shares of the company’s stock valued at $6,609,000 after buying an additional 265 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the topic of a number of research analyst reports. Truist Financial dropped their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Trading Down 1.1 %

Shares of Constellation Brands stock opened at $236.99 on Wednesday. The firm’s 50 day simple moving average is $245.30 and its two-hundred day simple moving average is $249.29. The firm has a market capitalization of $43.03 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 1.64 and a beta of 0.90. Constellation Brands, Inc. has a 12-month low of $231.70 and a 12-month high of $274.87. 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 released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $3.70 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the company’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 transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,793 shares of company stock valued at $34,300,914 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands 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.