Constellation Brands, Inc. (NYSE:STZ) Major Shareholder Sells $114,989,868.84 in Stock

Constellation Brands, Inc. (NYSE:STZ) major shareholder Richard Sands sold 638,407 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $180.12, for a total transaction of $114,989,868.84. Following the transaction, the insider now owns 249,763 shares of the company’s stock, valued at $44,987,311.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Richard Sands also recently made the following trade(s):

  • On Tuesday, July 21st, Richard Sands sold 151,404 shares of Constellation Brands stock. The stock was sold at an average price of $181.17, for a total value of $27,429,862.68.

Shares of STZ stock opened at $181.61 on Thursday. The stock’s fifty day moving average is $179.51 and its two-hundred day moving average is $172.86. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.94. The firm has a market capitalization of $35.02 billion, a P/E ratio of 1,009.00, a PEG ratio of 1.97 and a beta of 0.92. Constellation Brands, Inc. has a fifty-two week low of $104.28 and a fifty-two week high of $212.00.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 1st. The company reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.29. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Constellation Brands had a net margin of 0.62% and a return on equity of 15.10%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 8.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, August 10th. Constellation Brands’s dividend payout ratio (DPR) is 10.20%.

STZ has been the topic of a number of recent research reports. Credit Suisse Group upped their target price on Constellation Brands from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Jefferies Financial Group upped their price objective on Constellation Brands from $224.00 to $238.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Guggenheim lifted their target price on shares of Constellation Brands from $149.00 to $159.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Cowen increased their price target on shares of Constellation Brands from $160.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a report on Thursday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and a consensus price target of $197.32.

Institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its position in Constellation Brands by 4.6% during the first quarter. First Trust Advisors LP now owns 18,870 shares of the company’s stock worth $3,308,000 after buying an additional 833 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Constellation Brands by 6.8% during the 4th quarter. Guggenheim Capital LLC now owns 139,015 shares of the company’s stock valued at $26,378,000 after acquiring an additional 8,869 shares during the last quarter. Colony Group LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $345,000. IHT Wealth Management LLC increased its position in Constellation Brands by 8.6% during the fourth quarter. IHT Wealth Management LLC now owns 1,914 shares of the company’s stock worth $363,000 after purchasing an additional 152 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Constellation Brands by 3.7% during the fourth quarter. Profund Advisors LLC now owns 3,237 shares of the company’s stock worth $614,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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