Insider Selling: Constellation Brands, Inc. (NYSE:STZ) CEO Sells 4,013 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Constellation Brands Price Performance

Shares of NYSE STZ traded up $1.90 during mid-day trading on Tuesday, reaching $261.64. The company had a trading volume of 1,049,820 shares, compared to its average volume of 1,269,283. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87. The stock has a market cap of $47.83 billion, a PE ratio of 27.88, a P/E/G ratio of 1.76 and a beta of 0.97. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $258.44 and a two-hundred day moving average price of $247.40.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business posted $1.98 EPS. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 37.95%.

Analysts Set New Price Targets

STZ has been the topic of several analyst reports. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a research note on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Evercore ISI raised their price target on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Bank of America upped their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $298.55.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of Constellation Brands by 7.4% in the third quarter. CWM LLC now owns 4,453 shares of the company’s stock valued at $1,119,000 after purchasing an additional 306 shares in the last quarter. AE Wealth Management LLC lifted its stake in Constellation Brands by 32.0% in the 3rd quarter. AE Wealth Management LLC now owns 4,288 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,040 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Constellation Brands by 34.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 322 shares of the company’s stock worth $81,000 after acquiring an additional 83 shares during the period. Ritholtz Wealth Management purchased a new position in Constellation Brands during the 3rd quarter valued at about $572,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Constellation Brands by 8.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,967 shares of the company’s stock valued at $490,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.