Constellation Brands, Inc. (NYSE:STZ) Short Interest Update

Constellation Brands, Inc. (NYSE:STZ) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,380,000 shares, a decrease of 33.7% from the August 15th total of 3,590,000 shares. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.6% of the shares of the company are sold short.

Constellation Brands Stock Up 0.4 %

Shares of NYSE STZ traded up $0.96 during mid-day trading on Monday, reaching $253.53. 875,955 shares of the company’s stock were exchanged, compared to its average volume of 1,174,184. The business has a fifty day simple moving average of $245.91 and a 200 day simple moving average of $253.90. Constellation Brands has a twelve month low of $227.50 and a twelve month high of $274.87. The firm has a market capitalization of $46.39 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm earned $2.91 EPS. Constellation Brands’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts expect that Constellation Brands will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Roth Mkm lowered their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Jefferies Financial Group raised their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Finally, Truist Financial reiterated a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $296.78.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value 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 $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the last quarter. Capital International Investors boosted its stake in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares during the period. Capital World Investors boosted its stake in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the period. Capital Research Global Investors boosted its stake in shares of Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the period. Finally, Norges Bank bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $443,844,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

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.