Commonwealth Equity Services LLC Sells 8,541 Shares of Constellation Brands, Inc. (NYSE:STZ)

Commonwealth Equity Services LLC reduced its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,879 shares of the company’s stock after selling 8,541 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Constellation Brands worth $30,376,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. New Millennium Group LLC bought a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the second quarter worth about $32,000. First Financial Corp IN bought a new position in Constellation Brands during the first quarter valued at about $35,000. Finally, Opal Wealth Advisors LLC acquired a new position in Constellation Brands in the 2nd quarter valued at approximately $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at $104,638,157.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,221 shares of company stock valued at $33,007,175 in the last quarter. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Down 1.0 %

Constellation Brands stock opened at $239.15 on Tuesday. The company has a 50 day moving average of $246.52 and a 200-day moving average of $251.18. 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 twelve month low of $227.64 and a twelve month high of $274.87. The stock has a market capitalization of $43.76 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial lowered their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Evercore ISI reduced their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. UBS Group decreased their target price 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. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.