Insider Selling: Constellation Brands, Inc. (NYSE:STZ) EVP Sells 36,086 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Constellation Brands Trading Down 1.9 %

Shares of STZ stock traded down $4.49 during trading hours on Friday, reaching $237.51. 1,425,616 shares of the stock were exchanged, compared to its average volume of 1,203,183. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-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’s 50-day moving average price is $244.36 and its 200-day moving average price is $248.25. The firm has a market capitalization of $43.12 billion, a price-to-earnings ratio of 77.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company earned $3.70 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate 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 yield of 1.70%. Constellation Brands’s payout ratio is 130.74%.

Institutional Investors Weigh In On Constellation Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STZ. New Millennium Group LLC bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands in the second quarter valued at $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the second quarter valued at $32,000. LRI Investments LLC purchased a new stake in Constellation Brands in the first quarter valued at $37,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Constellation Brands in the second quarter valued at $36,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STZ shares. UBS Group decreased their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Evercore ISI cut their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. cut 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. BMO Capital Markets cut their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Four 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, Constellation Brands has a consensus rating of “Moderate Buy” and an average 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.