Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,340 shares of the company’s stock after selling 190 shares during the period. Wedbush Securities Inc.’s holdings in Constellation Brands were worth $602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in STZ. Stifel Financial Corp raised its holdings in Constellation Brands by 3.2% in the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock valued at $46,570,000 after acquiring an additional 5,951 shares in the last quarter. KBC Group NV lifted its position in shares of Constellation Brands by 100.4% during the fourth quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after purchasing an additional 125,730 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the second quarter worth about $119,394,000. Vanguard Group Inc. increased its holdings in Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares during the last quarter. Finally, Howland Capital Management LLC raised its stake in Constellation Brands by 3.0% during the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after buying an additional 4,051 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial reiterated a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. Barclays boosted their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, September 3rd. UBS Group lowered their price objective 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. Finally, 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 report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $296.78.

Insider Activity

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 over the last 90 days. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

STZ stock opened at $251.71 on Friday. The company has a 50-day simple moving average of $246.04 and a 200 day simple moving average of $253.77. The company has a market capitalization of $46.06 billion, a P/E ratio of 18.76, a PEG ratio of 1.67 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the firm posted $2.91 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 13.7 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Constellation Brands 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.