Insider Selling: Constellation Brands, Inc. (NYSE:STZ) CEO Sells 25,000 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Constellation Brands Price Performance

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

Constellation Brands (NYSE:STZ) last announced its earnings results 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. 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 analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company posted $3.70 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued 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 is presently 130.74%.

Analysts Set New Price Targets

STZ has been the topic of a number of analyst reports. Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Bank of America restated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. BMO Capital Markets cut their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report 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’s stock. According to MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STZ. First National Bank of Omaha raised its holdings in Constellation Brands by 20.3% in the 3rd quarter. First National Bank of Omaha now owns 13,859 shares of the company’s stock valued at $3,571,000 after buying an additional 2,334 shares during the period. World Investment Advisors LLC boosted its holdings in Constellation Brands by 4,601.2% in the third quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock valued at $22,618,000 after purchasing an additional 85,904 shares in the last quarter. National Bank of Canada FI boosted its holdings in Constellation Brands by 33.2% in the third quarter. National Bank of Canada FI now owns 78,205 shares of the company’s stock valued at $20,152,000 after purchasing an additional 19,510 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Constellation Brands in the third quarter valued at approximately $207,000. Finally, Kovitz Investment Group Partners LLC boosted its holdings in Constellation Brands by 31.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 40,233 shares of the company’s stock valued at $9,832,000 after purchasing an additional 9,651 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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.