William A. Newlands Sells 7,426 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Constellation Brands Stock Performance

STZ stock traded down $3.17 during trading on Thursday, reaching $232.30. 1,263,891 shares of the stock were exchanged, compared to its average volume of 1,185,784. Constellation Brands, Inc. has a twelve month low of $232.08 and a twelve month high of $274.87. 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 company has a market capitalization of $42.18 billion, a P/E ratio of 75.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The stock has a 50 day simple moving average of $245.91 and a 200-day simple moving average of $250.00.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.70 EPS. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is 130.74%.

Wall Street Analysts Forecast Growth

STZ has been the subject of several research reports. Truist Financial reduced their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Morgan Stanley decreased their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Bank of America reissued a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $290.47.

Hedge Funds Weigh In On Constellation Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New Millennium Group LLC acquired a new position in Constellation Brands in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the 2nd quarter valued at $32,000. LRI Investments LLC bought a new stake in Constellation Brands in the first quarter valued at $37,000. Finally, Opal Wealth Advisors LLC acquired a new position in Constellation Brands during the second quarter worth $36,000. 77.34% of the stock is owned by institutional investors.

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.