State of Alaska Department of Revenue Buys 695 Shares of Constellation Brands, Inc. (NYSE:STZ)

State of Alaska Department of Revenue lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,201 shares of the company’s stock after acquiring an additional 695 shares during the quarter. State of Alaska Department of Revenue’s holdings in Constellation Brands were worth $4,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands in the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands during the second quarter worth $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Evercore ISI decreased their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Truist Financial dropped their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Finally, Bank of America reissued a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Buying and Selling

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Garth Hankinson sold 13,583 shares of the 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 sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,367 shares of company stock worth $32,539,170 in the last ninety days. 12.19% of the stock is owned by insiders.

Constellation Brands Trading Down 0.6 %

Shares of STZ opened at $236.11 on Wednesday. Constellation Brands, Inc. has a fifty-two week low of $230.71 and a fifty-two week high of $274.87. The firm has a market cap of $43.20 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.70 and a beta of 1.75. The firm has a 50 day moving average price of $246.09 and a 200-day moving average price of $250.10. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

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

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, November 5th. 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.