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 the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Constellation Brands Stock Up 0.7 %

NYSE:STZ opened at $261.64 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company has a market cap of $47.83 billion, a PE ratio of 27.89, a PEG ratio of 1.76 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $221.81 and a 52-week high of $274.87. The stock has a 50-day simple moving average of $258.78 and a 200 day simple moving average of $247.57.

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

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a dividend of $1.01 per share. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.54%. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays increased their target price on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. UBS Group increased their target price on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research note on Monday, April 15th. BMO Capital Markets increased their target price on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Finally, Jefferies Financial Group increased their target price on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STZ. CWM LLC grew its holdings in shares of Constellation Brands by 7.4% during the third quarter. CWM LLC now owns 4,453 shares of the company’s stock worth $1,119,000 after buying an additional 306 shares in the last quarter. AE Wealth Management LLC grew its stake in Constellation Brands by 32.0% in the third quarter. AE Wealth Management LLC now owns 4,288 shares of the company’s stock valued at $1,078,000 after purchasing an additional 1,040 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Constellation Brands by 34.7% in the third quarter. Geneos Wealth Management Inc. now owns 322 shares of the company’s stock valued at $81,000 after purchasing an additional 83 shares in the last quarter. Ritholtz Wealth Management bought a new position in Constellation Brands in the third quarter valued at approximately $572,000. Finally, Global Retirement Partners LLC grew its stake in Constellation Brands by 8.5% in the third 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 in the last quarter. 77.34% of the stock is currently owned by institutional investors.

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.