Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,546 shares of the company’s stock after selling 374 shares during the period. Crossmark Global Holdings Inc.’s holdings in Constellation Brands were worth $1,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC boosted its position in Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after acquiring an additional 39 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares during the last quarter. PFG Investments LLC grew its position in shares of Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after purchasing an additional 42 shares during the period. Brighton Jones LLC grew its position in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares during the period. Finally, Industrial Alliance Investment Management Inc. increased its stake in Constellation Brands by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after purchasing an additional 44 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Truist Financial decreased 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 report on Friday, October 4th. BMO Capital Markets decreased their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,210 shares of company stock worth $31,040,994 over the last quarter. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $240.71 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The business has a 50 day moving average price of $244.61 and a two-hundred day moving average price of $248.35. The firm has a market cap of $43.70 billion, a PE ratio of 77.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90.

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

Constellation Brands Dividend Announcement

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

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.