Michael Mcgrew Sells 3,237 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

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

Constellation Brands Trading Up 0.4 %

NYSE:STZ opened at $258.46 on Wednesday. Constellation Brands, Inc. has a 12 month low of $222.45 and a 12 month high of $274.87. The firm has a fifty day simple moving average of $261.27 and a 200-day simple moving average of $249.24. 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 market capitalization of $47.29 billion, a P/E ratio of 27.55, a PEG ratio of 1.73 and a beta of 1.75.

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

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a dividend of $1.01 per share. 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. This represents a $4.04 dividend on an annualized basis and a yield of 1.56%. Constellation Brands’s payout ratio is currently 43.07%.

Analyst Ratings Changes

STZ has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Barclays lifted their price objective on shares of Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, April 15th. BMO Capital Markets lifted their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Finally, Piper Sandler started coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC lifted its position in Constellation Brands by 16.5% during the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares during the period. Burns Matteson Capital Management LLC lifted its position in Constellation Brands by 1.7% during the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after purchasing an additional 42 shares during the period. 1620 Investment Advisors Inc. lifted its position in Constellation Brands by 1.8% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after purchasing an additional 42 shares during the period. FAS Wealth Partners Inc. lifted its position in Constellation Brands by 3.5% during the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after purchasing an additional 43 shares during the period. Finally, Smithfield Trust Co lifted its position in Constellation Brands by 5.3% during the fourth quarter. Smithfield Trust Co now owns 854 shares of the company’s stock valued at $207,000 after purchasing an additional 43 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

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.