Constellation Brands (NYSE:STZ) Trading Down 2.8%

Shares of Constellation Brands, Inc. (NYSE:STZ) dropped 2.8% on Wednesday . The company traded as low as $251.11 and last traded at $251.80. Approximately 1,333,320 shares were traded during trading, an increase of 12% from the average daily volume of 1,194,493 shares. The stock had previously closed at $258.94.

Analyst Ratings Changes

STZ has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. UBS Group raised their price target on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler assumed coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. Truist Financial reissued a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a research note on Wednesday. Finally, Evercore ISI lifted their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $300.16.

Constellation Brands Trading Up 0.1 %

The company has a fifty day simple moving average of $254.77 and a two-hundred day simple moving average of $253.97. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $45.84 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 earnings per share. On average, sell-side analysts expect that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.61%. Constellation Brands’s dividend payout ratio is presently 43.07%.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 over the last three months. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently modified their holdings of STZ. BKM Wealth Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $28,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands during the first quarter worth approximately $35,000. Kapitalo Investimentos Ltda acquired a new position in Constellation Brands during the fourth quarter worth approximately $35,000. First Financial Corp IN acquired a new position in Constellation Brands during the first quarter worth approximately $35,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Constellation Brands during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds 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.