Constellation Brands, Inc. (NYSE:STZ) EVP Sells $827,053.50 in Stock

Constellation Brands, Inc. (NYSE:STZ) EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Constellation Brands Stock Performance

NYSE STZ opened at $258.36 on Thursday. Constellation Brands, Inc. has a fifty-two week low of $223.01 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market capitalization of $47.27 billion, a P/E ratio of 27.54, a PEG ratio of 1.73 and a beta of 1.75. The stock has a 50-day simple moving average of $261.27 and a two-hundred day simple moving average of $249.24.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the company posted $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.56%. Constellation Brands’s dividend payout ratio is 43.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STZ. Norges Bank acquired a new stake in shares of Constellation Brands during the 4th quarter valued at about $443,844,000. Darsana Capital Partners LP grew its holdings in Constellation Brands by 288.9% in the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after purchasing an additional 650,000 shares during the period. Boston Partners purchased a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $156,358,000. International Assets Investment Management LLC raised its stake in shares of Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after buying an additional 564,744 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on STZ shares. HSBC increased their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. UBS Group increased their price objective on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research note on Monday, April 15th. Finally, Bank of America increased their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

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.