Constellation Brands, Inc. (NYSE:STZ) EVP Sells $8,768,537.14 in Stock

Constellation Brands, Inc. (NYSE:STZ) EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Constellation Brands Stock Down 1.9 %

STZ stock traded down $4.49 during midday trading on Friday, hitting $237.51. The company’s stock had a trading volume of 1,425,616 shares, compared to its average volume of 1,203,183. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The firm has a market capitalization of $43.12 billion, a P/E ratio of 77.63, a PEG ratio of 1.70 and a beta of 0.90. The firm has a 50-day simple moving average of $244.36 and a 200-day simple moving average of $248.25.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. The business 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 company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.70 EPS. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STZ. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. BMO Capital Markets decreased their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Morgan Stanley decreased their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Institutional Investors Weigh In On Constellation Brands

Institutional investors have recently modified their holdings of the company. New Millennium Group LLC acquired a new position in Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands in the second quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the second quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new position in Constellation Brands in the second quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands in the second quarter valued at $36,000. 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.