William A. Newlands Sells 25,000 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Constellation Brands Trading Down 1.9 %

Shares of STZ stock opened at $237.51 on Friday. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The stock has a market cap of $43.12 billion, a P/E ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 1.75. The business has a fifty day simple moving average of $244.13 and a 200-day simple moving average of $248.09. 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 (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the business posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 130.74%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STZ shares. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Barclays decreased their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Truist Financial decreased their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter worth about $119,394,000. Vanguard Group Inc. increased its position in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Capital International Sarl increased its position in Constellation Brands by 35.9% during the 1st quarter. Capital International Sarl now owns 10,462 shares of the company’s stock worth $2,843,000 after purchasing an additional 2,764 shares in the last quarter. Clearbridge Investments LLC increased its position in Constellation Brands by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 503,058 shares of the company’s stock worth $136,711,000 after purchasing an additional 5,302 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Constellation Brands by 14.3% during the 1st quarter. Russell Investments Group Ltd. now owns 58,814 shares of the company’s stock worth $15,986,000 after purchasing an additional 7,343 shares in the last quarter. Hedge funds and other institutional investors own 77.34% 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.