Audent Global Asset Management LLC Sells 3,397 Shares of Constellation Brands, Inc. (NYSE:STZ)

Audent Global Asset Management LLC decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 72.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,291 shares of the company’s stock after selling 3,397 shares during the quarter. Audent Global Asset Management LLC’s holdings in Constellation Brands were worth $333,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in STZ. Manning & Napier Advisors LLC bought a new stake in shares of Constellation Brands in the 2nd quarter worth approximately $119,394,000. Empowered Funds LLC increased its holdings in Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after purchasing an additional 7,752 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Constellation Brands during the 3rd quarter valued at $2,132,000. WealthPlan Investment Management LLC increased its holdings in Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after purchasing an additional 6,867 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Constellation Brands during the 1st quarter valued at $561,000. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Wells Fargo & Company decreased their price objective on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Finally, Truist Financial decreased their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands Trading Up 2.1 %

Shares of STZ stock opened at $240.95 on Monday. 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 stock has a market cap of $43.75 billion, a P/E ratio of 77.98, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The stock has a 50 day simple moving average of $241.72 and a 200 day simple moving average of $246.71. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.70 earnings per share. On average, research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % 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 link. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred 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 owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock worth $46,058,091 over the last three months. Corporate insiders own 12.19% of the company’s stock.

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.