Kaneenat Kristann Carey Sells 977 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction on 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 directly 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 this hyperlink.

Constellation Brands Price Performance

NYSE STZ traded down $1.39 during trading hours on Tuesday, reaching $248.14. The company’s stock had a trading volume of 1,551,804 shares, compared to its average volume of 1,217,963. The firm’s 50-day moving average price is $254.58 and its 200-day moving average price is $255.01. The company has a quick ratio of 0.53, a current ratio of 1.19 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. The company has a market capitalization of $45.22 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.71 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.91 EPS. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. The ex-dividend date is 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 30.10%.

Wall Street Analyst Weigh In

Several research firms recently commented on STZ. JPMorgan Chase & Co. increased their price objective on Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. UBS Group increased their price objective on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Piper Sandler began coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Finally, HSBC increased their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $300.11.

Institutional Trading of Constellation Brands

Hedge funds have recently modified their holdings of the company. Great Valley Advisor Group Inc. increased its position in shares of Constellation Brands by 11.4% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,256 shares of the company’s stock valued at $4,954,000 after purchasing an additional 1,972 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Constellation Brands by 0.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 223,356 shares of the company’s stock valued at $57,465,000 after purchasing an additional 904 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in Constellation Brands by 12.2% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,124 shares of the company’s stock valued at $289,000 after acquiring an additional 122 shares during the last quarter. Diversified Trust Co bought a new position in Constellation Brands in the 2nd quarter valued at $225,000. Finally, AA Financial Advisors LLC bought a new position in Constellation Brands in the 2nd quarter valued at $340,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.