HMS Capital Management LLC Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

HMS Capital Management LLC raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,060 shares of the company’s stock after purchasing an additional 232 shares during the period. HMS Capital Management LLC’s holdings in Constellation Brands were worth $789,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of STZ. New Millennium Group LLC purchased a new position in Constellation Brands during the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands during the second quarter valued at approximately $32,000. LRI Investments LLC purchased a new position in Constellation Brands during the first quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC purchased a new position in Constellation Brands during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,793 shares of company stock valued at $34,300,914. 12.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Morgan Stanley dropped their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Barclays dropped their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their target price for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, UBS Group dropped 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 report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $290.47.

Constellation Brands Stock Down 1.1 %

Shares of NYSE STZ opened at $236.99 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52 week low of $231.70 and a 52 week high of $274.87. The firm’s fifty day moving average is $245.30 and its 200 day moving average is $249.29. The company has a market cap of $43.03 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 1.64 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS 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 the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is currently 130.74%.

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.