Insider Selling: Constellation Brands, Inc. (NYSE:STZ) EVP Sells 1,510 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Constellation Brands Stock Down 0.7 %

STZ stock traded down $1.64 during midday trading on Tuesday, reaching $244.07. The company had a trading volume of 1,267,312 shares, compared to its average volume of 1,188,054. Constellation Brands, Inc. has a 1 year low of $227.64 and a 1 year 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. The company has a market capitalization of $44.66 billion, a P/E ratio of 18.24, a PEG ratio of 1.70 and a beta of 1.75. The company has a 50 day moving average of $246.28 and a two-hundred day moving average of $252.09.

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

Constellation Brands Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.66%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Hedge Funds Weigh In On Constellation Brands

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. Capital International Investors raised its position in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors raised its position in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the period. Capital Research Global Investors raised its position in shares of Constellation Brands by 9.9% in the first 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 grew its stake 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 acquiring an additional 72,637 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STZ shares. Bank of America reissued 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. Truist Financial cut their price objective 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. BMO Capital Markets dropped their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday. Jefferies Financial Group upped their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Finally, JPMorgan Chase & Co. decreased their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

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.