Constellation Brands, Inc. (NYSE:STZ) EVP Sells $827,053.50 in Stock

Constellation Brands, Inc. (NYSE:STZ) EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $260.70 on Friday. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 1.73 and a beta of 1.75. The firm has a fifty day moving average price of $261.48 and a 200 day moving average price of $249.30. Constellation Brands, Inc. has a fifty-two week low of $223.01 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.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 EPS. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

Institutional Trading of Constellation Brands

A number of large investors have recently added to or reduced their stakes in STZ. Robeco Institutional Asset Management B.V. raised its stake in Constellation Brands by 18.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 10,291 shares of the company’s stock valued at $2,586,000 after purchasing an additional 1,629 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Constellation Brands by 0.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 59,892 shares of the company’s stock valued at $15,053,000 after acquiring an additional 420 shares during the last quarter. Brown Advisory Inc. grew its position in Constellation Brands by 5.7% in the third quarter. Brown Advisory Inc. now owns 5,437 shares of the company’s stock worth $1,367,000 after acquiring an additional 294 shares in the last quarter. Chatham Capital Group Inc. purchased a new position in Constellation Brands in the third quarter worth about $204,000. Finally, Strs Ohio increased its stake in Constellation Brands by 1.5% during the third quarter. Strs Ohio now owns 89,960 shares of the company’s stock worth $22,609,000 after acquiring an additional 1,366 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on STZ shares. HSBC raised their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Piper Sandler initiated coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a report on Friday, April 12th. UBS Group lifted their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Bank of America upped their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

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.