Apollon Wealth Management LLC Sells 92 Shares of Constellation Brands, Inc. (NYSE:STZ)

Apollon Wealth Management LLC lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,964 shares of the company’s stock after selling 92 shares during the period. Apollon Wealth Management LLC’s holdings in Constellation Brands were worth $764,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands during the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Constellation Brands in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Evercore ISI lowered their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Morgan Stanley cut their target price 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. lowered their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

NYSE:STZ opened at $237.51 on Friday. The company has a market capitalization of $43.12 billion, a PE ratio of 77.63, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a 50 day simple moving average of $244.36 and a two-hundred day simple moving average of $248.25.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.70 earnings per share. Research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.70%. Constellation Brands’s payout ratio is 130.74%.

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,296 shares of company stock valued at $45,899,031 over the last 90 days. 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.