Truist Financial Corp Purchases 20,209 Shares of Constellation Brands, Inc. (NYSE:STZ)

Truist Financial Corp increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 55.1% during the 2nd quarter, Holdings Channel reports. The firm owned 56,904 shares of the company’s stock after buying an additional 20,209 shares during the period. Truist Financial Corp’s holdings in Constellation Brands were worth $14,640,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands in the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands in the 2nd quarter worth about $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Constellation Brands during the 1st quarter valued at about $35,000. Finally, First Financial Corp IN purchased a new position in shares of Constellation Brands during the first quarter valued at about $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. cut their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday. Barclays upped their price target on Constellation Brands from $295.00 to $309.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 24th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday. Finally, Evercore ISI decreased their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.75.

Constellation Brands Stock Up 1.2 %

Constellation Brands stock opened at $246.67 on Friday. The firm has a market cap of $45.13 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.74 and a beta of 1.75. 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 12 month low of $227.50 and a 12 month high of $274.87. The stock has a fifty day simple moving average of $246.53 and a two-hundred day simple moving average of $253.50.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.21. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.70 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands 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 sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’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 approximately $706,266. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on 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 transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock worth $3,982,922 over the last quarter. Company insiders own 12.19% of the company’s stock.

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.