William A. Newlands Sells 7,426 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Constellation Brands Trading Up 0.2 %

Shares of NYSE STZ opened at $232.77 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The business has a fifty day simple moving average of $245.43 and a two-hundred day simple moving average of $249.70. The firm has a market cap of $42.26 billion, a PE ratio of 75.33, a price-to-earnings-growth ratio of 1.66 and a beta of 0.88. Constellation Brands, Inc. has a twelve month low of $231.70 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm 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 25.34% and a net margin of 5.29%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.70 EPS. Analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Tompkins Financial Corp raised its position in shares of Constellation Brands by 54.5% in the 3rd quarter. Tompkins Financial Corp now owns 3,740 shares of the company’s stock worth $964,000 after acquiring an additional 1,320 shares in the last quarter. 5th Street Advisors LLC bought a new position in shares of Constellation Brands in the 3rd quarter worth $206,000. Assetmark Inc. raised its position in shares of Constellation Brands by 25.1% in the 3rd quarter. Assetmark Inc. now owns 22,609 shares of the company’s stock worth $5,826,000 after acquiring an additional 4,531 shares in the last quarter. Executive Wealth Management LLC raised its position in shares of Constellation Brands by 18.9% in the 3rd quarter. Executive Wealth Management LLC now owns 12,985 shares of the company’s stock worth $3,346,000 after acquiring an additional 2,060 shares in the last quarter. Finally, Radnor Capital Management LLC grew its stake in Constellation Brands by 3.6% during the 3rd quarter. Radnor Capital Management LLC now owns 6,919 shares of the company’s stock worth $1,783,000 after buying an additional 240 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on STZ. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Jefferies Financial Group boosted their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Morgan Stanley dropped their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Finally, Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

About Constellation Brands

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.