Procyon Advisors LLC Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Procyon Advisors LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,886 shares of the company’s stock after selling 42 shares during the period. Procyon Advisors LLC’s holdings in Constellation Brands were worth $486,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands during the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands during the second quarter worth approximately $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the second quarter worth approximately $32,000. First Financial Corp IN purchased a new position in shares of Constellation Brands during the first quarter worth approximately $35,000. Finally, LRI Investments LLC purchased a new position in shares of Constellation Brands during the first quarter worth approximately $37,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,947 shares of company stock valued at $4,098,736 in the last 90 days. 12.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STZ shares. Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. UBS Group lowered their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Truist Financial lowered their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Finally, Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Trading Down 0.7 %

NYSE:STZ opened at $244.00 on Wednesday. The company has a market capitalization of $44.65 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. 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 $227.64 and a 52-week high of $274.87. The stock has a fifty day simple moving average of $246.39 and a 200-day simple moving average of $251.89.

Constellation Brands (NYSE:STZ) last released its quarterly 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. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

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.