Amalgamated Bank Sells 1,056 Shares of Constellation Brands, Inc. (NYSE:STZ)

Amalgamated Bank reduced its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,431 shares of the company’s stock after selling 1,056 shares during the quarter. Amalgamated Bank’s holdings in Constellation Brands were worth $8,344,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. New Millennium Group LLC bought a new position in Constellation Brands in the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the 2nd quarter valued at $32,000. YHB Investment Advisors Inc. bought a new stake in Constellation Brands in the 1st quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands in the 4th quarter worth $35,000. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on STZ shares. JPMorgan Chase & Co. cut their price objective on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Truist Financial reaffirmed a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 3rd. UBS Group cut their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Jefferies Financial Group upped their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Finally, Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $296.78.

Insider Buying and Selling at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $248.34 on Friday. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.69 and a beta of 1.75. The company has a 50 day moving average of $245.66 and a 200-day moving average of $253.90. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the firm earned $2.91 earnings per share. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.63%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

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.