Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 7.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 147,487 shares of the company’s stock after selling 12,337 shares during the quarter. Federated Hermes Inc.’s holdings in Constellation Brands were worth $37,945,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STZ. International Assets Investment Management LLC increased its stake in Constellation Brands by 3.5% during the 4th quarter. International Assets Investment Management LLC now owns 2,345 shares of the company’s stock worth $567,000 after buying an additional 79 shares during the period. Meridian Wealth Management LLC increased its position in shares of Constellation Brands by 8.2% in the 4th quarter. Meridian Wealth Management LLC now owns 1,891 shares of the company’s stock valued at $457,000 after purchasing an additional 143 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of Constellation Brands by 0.3% in the 4th quarter. Great Lakes Advisors LLC now owns 28,060 shares of the company’s stock valued at $6,784,000 after purchasing an additional 96 shares during the last quarter. NorthRock Partners LLC increased its position in shares of Constellation Brands by 69.3% in the 4th quarter. NorthRock Partners LLC now owns 1,696 shares of the company’s stock valued at $410,000 after purchasing an additional 694 shares during the last quarter. Finally, Kentucky Retirement Systems increased its position in shares of Constellation Brands by 0.7% in the 4th quarter. Kentucky Retirement Systems now owns 12,932 shares of the company’s stock valued at $3,126,000 after purchasing an additional 89 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the firm’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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $252.57 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $245.91 and a two-hundred day moving average price of $253.86. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a market capitalization of $46.02 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $2.91 EPS. As a group, research analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.60%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Wall Street Analyst Weigh In

A number of brokerages have commented on STZ. Barclays increased their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Roth Mkm dropped their price objective on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, September 3rd. Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands 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.