Insider Selling: Constellation Brands, Inc. (NYSE:STZ) EVP Sells 15,781 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $258.68 on Friday. The stock’s 50-day moving average is $257.82 and its two-hundred day moving average is $247.21. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87. The company has a market cap of $47.29 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75.

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 the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business earned $1.98 EPS. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business 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 is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.56%. Constellation Brands’s dividend payout ratio is 43.07%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STZ shares. Bank of America lifted their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Piper Sandler initiated coverage on Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Finally, Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Institutional Investors Weigh In On Constellation Brands

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after acquiring an additional 313,344 shares in the last quarter. Morgan Stanley boosted its position in shares of Constellation Brands by 1.5% during the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after acquiring an additional 58,518 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Constellation Brands by 84,839.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after acquiring an additional 3,738,028 shares in the last quarter. Barclays PLC boosted its position in shares of Constellation Brands by 102.0% during the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock worth $723,027,000 after acquiring an additional 1,483,668 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Constellation Brands by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 2,863,322 shares of the company’s stock worth $645,055,000 after acquiring an additional 50,672 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.