Wesbanco Bank Inc. Has $9.73 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Wesbanco Bank Inc. cut its position in Constellation Brands, Inc. (NYSE:STZ) by 43.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,764 shares of the company’s stock after selling 29,311 shares during the quarter. Wesbanco Bank Inc.’s holdings in Constellation Brands were worth $9,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in Constellation Brands during the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands during the 2nd quarter valued at approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the 2nd quarter valued at approximately $32,000. Kapitalo Investimentos Ltda bought a new position in Constellation Brands in the 4th quarter worth approximately $35,000. Finally, First Financial Corp IN acquired a new position in shares of Constellation Brands during the first quarter worth approximately $35,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $245.71 on Tuesday. Constellation Brands, Inc. has a 1-year low of $227.64 and a 1-year high of $274.87. The firm’s 50-day moving average price is $246.28 and its two-hundred day moving average price is $252.09. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $44.96 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations 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 was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $3.70 EPS. On average, equities analysts predict 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. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.64%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on STZ shares. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. UBS Group reduced their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $291.06.

Insiders Place Their Bets

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.19% 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.