Insider Selling: Constellation Brands, Inc. (NYSE:STZ) CEO Sells $6,089,500.00 in 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 shares were 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 owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Constellation Brands Stock Down 1.9 %

NYSE:STZ opened at $237.51 on Monday. Constellation Brands, Inc. has a one year low of $224.76 and a one year 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 company has a market cap of $43.12 billion, a PE ratio of 76.86, a P/E/G ratio of 1.68 and a beta of 0.90. The firm’s 50 day simple moving average is $244.13 and its 200 day simple moving average is $248.01.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.70 earnings per share. On average, research 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. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors raised its holdings in 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 purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors raised its stake in Constellation Brands by 8.7% during the first 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 during the last quarter. International Assets Investment Management LLC lifted its holdings in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the second quarter valued at $119,394,000. Finally, Vanguard Group Inc. boosted its position in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. UBS Group decreased 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 note on Monday, September 9th. Finally, TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target 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.