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 that occurred 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 completion of the sale, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Constellation Brands Trading Down 1.9 %

STZ opened at $237.51 on Friday. The company has a fifty day moving average price of $244.13 and a two-hundred day moving average price of $248.09. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a market cap of $43.12 billion, a P/E ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the company earned $3.70 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands’s payout ratio is 130.74%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. 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 valued at $3,724,686,000 after purchasing an additional 462,891 shares during the last quarter. Capital International Investors grew its position in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors raised its position in Constellation Brands by 8.7% in the first 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. State Street Corp raised its position in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares during the period. Finally, Capital Research Global Investors boosted its stake in Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after acquiring an additional 222,380 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group cut their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Morgan Stanley cut their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

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.