Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its position in Constellation Brands, Inc. (NYSE:STZ) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,278 shares of the company’s stock after selling 17,780 shares during the quarter. Clearbridge Investments LLC owned 0.27% of Constellation Brands worth $124,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Millennium Group LLC purchased a new stake in Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $32,000. YHB Investment Advisors Inc. purchased a new position in Constellation Brands in the 1st quarter valued at approximately $35,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Constellation Brands in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.0 %

NYSE:STZ opened at $257.62 on Wednesday. The company has a market capitalization of $47.14 billion, a PE ratio of 19.20, a P/E/G ratio of 1.74 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The stock’s 50 day moving average price is $246.61 and its 200 day moving average price is $253.69. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the company posted $2.91 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Wall Street Analyst Weigh In

STZ has been the topic of several analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Truist Financial reiterated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. UBS Group cut their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Roth Mkm lowered their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.12.

Constellation Brands 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.