Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 86.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,576 shares of the company’s stock after selling 30,374 shares during the period. Logan Capital Management Inc.’s holdings in Constellation Brands were worth $1,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after purchasing an additional 313,344 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Constellation Brands by 52.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,928,866 shares of the company’s stock worth $910,514,000 after purchasing an additional 1,346,846 shares in the last quarter. Morgan Stanley increased its position in shares of Constellation Brands by 31.3% during the fourth quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after purchasing an additional 908,486 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Constellation Brands by 84,839.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after buying an additional 3,738,028 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Constellation Brands by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 2,812,650 shares of the company’s stock worth $650,445,000 after buying an additional 98,901 shares during the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $259.20 on Monday. The firm has a 50 day moving average of $261.84 and a 200-day moving average of $240.94. Constellation Brands, Inc. has a 12-month low of $208.12 and a 12-month high of $273.65. The company has a current ratio of 1.14, a quick ratio of 0.53 and a debt-to-equity ratio of 1.23. The company has a market cap of $47.52 billion, a price-to-earnings ratio of -141.64, a PEG ratio of 1.95 and a beta of 1.04.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, June 30th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.08. Constellation Brands had a negative net margin of 3.14% and a positive return on equity of 22.32%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the firm earned $2.66 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts expect that Constellation Brands, Inc. will post 11.62 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $0.89 per share. The ex-dividend date was Wednesday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.37%. Constellation Brands’s dividend payout ratio is currently -194.54%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. HSBC raised their price target on Constellation Brands from $275.00 to $280.00 in a report on Wednesday, June 7th. Jefferies Financial Group raised their price target on Constellation Brands from $293.00 to $300.00 in a report on Tuesday, June 27th. JPMorgan Chase & Co. raised their price target on Constellation Brands from $273.00 to $276.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. StockNews.com began coverage on Constellation Brands in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Truist Financial lifted their price objective on Constellation Brands from $220.00 to $240.00 and gave the company a “hold” rating in a report on Monday, July 3rd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.05.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 49,425 shares of Constellation Brands stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the completion of the transaction, the chief executive officer now directly owns 9,316 shares in the company, valued at approximately $2,495,756.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the completion of the transaction, the chief executive officer now directly owns 9,316 shares in the company, valued at approximately $2,495,756.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Mccarthy sold 1,736 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $269.86, for a total value of $468,476.96. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $872,187.52. The disclosure for this sale can be found here. Insiders sold 100,819 shares of company stock worth $27,054,755 in the last ninety days. Insiders own 16.19% 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.