Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,487 shares of the company’s stock after selling 12,337 shares during the period. Federated Hermes Inc. owned approximately 0.08% of Constellation Brands worth $37,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of STZ. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. acquired a new stake in Constellation Brands in the first quarter valued at approximately $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands in the fourth quarter valued at approximately $35,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Up 0.3 %

STZ opened at $252.57 on Friday. Constellation Brands, Inc. has a fifty-two week low of $227.50 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 company has a fifty day moving average of $245.91 and a two-hundred day moving average of $253.86. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.69 and a beta of 0.88.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.91 earnings per share. On average, research analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.60%. Constellation Brands’s payout ratio is presently 30.10%.

Insider Buying and Selling

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Roth Mkm lowered their price objective on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Truist Financial reiterated a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. Jefferies Financial Group lifted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $296.78.

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.