Robert Sands Sells 119,274 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Constellation Brands Price Performance

Shares of STZ stock traded up $1.48 during mid-day trading on Friday, reaching $241.52. The company’s stock had a trading volume of 1,644,472 shares, compared to its average volume of 1,192,825. The firm’s 50-day moving average is $246.51 and its two-hundred day moving average is $251.75. Constellation Brands, Inc. has a 1-year low of $227.64 and a 1-year 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 market cap of $44.19 billion, a P/E ratio of 17.89, a PEG ratio of 1.70 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.67%. Constellation Brands’s payout ratio is 30.10%.

Institutional Investors Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STZ. First Citizens Bank & Trust Co. boosted its position in Constellation Brands by 2.6% during the third quarter. First Citizens Bank & Trust Co. now owns 2,898 shares of the company’s stock valued at $747,000 after purchasing an additional 74 shares during the last quarter. Blue Trust Inc. boosted its position in Constellation Brands by 181.3% during the third quarter. Blue Trust Inc. now owns 1,021 shares of the company’s stock valued at $263,000 after purchasing an additional 658 shares during the last quarter. Riverview Trust Co boosted its position in Constellation Brands by 37.3% during the third quarter. Riverview Trust Co now owns 346 shares of the company’s stock valued at $89,000 after purchasing an additional 94 shares during the last quarter. West Oak Capital LLC raised its position in Constellation Brands by 3.3% during the third quarter. West Oak Capital LLC now owns 7,473 shares of the company’s stock worth $1,926,000 after acquiring an additional 238 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in Constellation Brands by 6.4% in the third quarter. Stratos Wealth Advisors LLC now owns 2,913 shares of the company’s stock valued at $751,000 after acquiring an additional 175 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on STZ shares. Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. UBS Group dropped their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Morgan Stanley reduced their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research 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’s stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price 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.