Bokf Na Sells 6,717 Shares of Constellation Brands, Inc. (NYSE:STZ)

Bokf Na lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 17.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,251 shares of the company’s stock after selling 6,717 shares during the period. Bokf Na’s holdings in Constellation Brands were worth $8,579,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Steel Grove Capital Advisors LLC bought a new position in shares of Constellation Brands in the 1st quarter worth approximately $222,000. Epoch Investment Partners Inc. lifted its stake in shares of Constellation Brands by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 311,608 shares of the company’s stock worth $84,683,000 after purchasing an additional 58,788 shares during the period. LRI Investments LLC bought a new position in shares of Constellation Brands in the 1st quarter worth approximately $195,000. Stonebridge Capital Advisors LLC lifted its stake in shares of Constellation Brands by 6.8% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 33,808 shares of the company’s stock worth $9,188,000 after purchasing an additional 2,167 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Constellation Brands by 12.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 334,831 shares of the company’s stock worth $90,994,000 after acquiring an additional 36,701 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. Insiders sold a total of 29,214 shares of company stock worth $7,620,551 over the last three months. 12.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STZ. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a report on Monday, April 15th. UBS Group increased their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Truist Financial reissued a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group increased their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $300.28.

Constellation Brands Price Performance

Shares of STZ stock traded up $4.10 on Friday, reaching $253.48. The company’s stock had a trading volume of 846,431 shares, compared to its average volume of 1,287,151. The stock’s fifty day simple moving average is $252.86 and its 200-day simple moving average is $255.09. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. 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 $46.19 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.67 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share 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 firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm posted $2.91 earnings per share. Constellation Brands’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.59%. Constellation Brands’s dividend payout ratio is presently 30.10%.

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 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.