James A. Jr. Sabia Sells 36,086 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Constellation Brands Trading Down 1.9 %

NYSE STZ opened at $237.51 on Friday. 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 firm has a market cap of $43.12 billion, a PE ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The firm’s fifty day moving average is $244.13 and its two-hundred day moving average is $248.09.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $3.70 earnings per share. Analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Wall Street Analyst Weigh In

STZ has been the topic of several recent analyst reports. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Barclays dropped their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, Truist Financial cut their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands in the second quarter valued at about $32,000. LRI Investments LLC purchased a new stake in shares of Constellation Brands in the first quarter valued at about $37,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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.