Greenleaf Trust Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Greenleaf Trust lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,520 shares of the company’s stock after selling 77 shares during the quarter. Greenleaf Trust’s holdings in Constellation Brands were worth $649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the last quarter. Capital International Investors raised its stake in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors boosted its position in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after buying an additional 723,549 shares in the last quarter. Capital Research Global Investors increased its holdings in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after acquiring an additional 222,380 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Constellation Brands stock opened at $239.38 on Friday. The company has a market cap of $43.80 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock’s 50-day moving average is $246.46 and its 200-day moving average is $250.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company posted $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial lowered their price target 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. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Morgan Stanley decreased their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Roth Mkm restated a “buy” rating and issued a $298.00 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insiders Place Their Bets

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,367 shares of company stock worth $32,539,170 over the last quarter. 12.19% of the stock is owned by corporate insiders.

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.