Constellation Brands, Inc. (NYSE:STZ) Short Interest Update

Constellation Brands, Inc. (NYSE:STZ) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,380,000 shares, a decline of 33.7% from the August 15th total of 3,590,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is presently 2.1 days.

Constellation Brands Trading Up 0.4 %

Shares of Constellation Brands stock traded up $0.96 on Monday, hitting $253.53. 875,955 shares of the company’s stock traded hands, compared to its average volume of 1,174,184. Constellation Brands has a one year low of $227.50 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a fifty day moving average of $245.91 and a two-hundred day moving average of $253.90. The company has a market capitalization of $46.39 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.91 EPS. As a group, sell-side analysts expect that Constellation Brands will post 13.53 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction 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 approximately $706,266. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. In the last three months, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Orion Portfolio Solutions LLC raised its stake in shares of Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after purchasing an additional 39 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of 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 acquiring an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in shares of 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 acquiring an additional 42 shares during the last quarter. Copperwynd Financial LLC increased its position in shares of Constellation Brands by 1.6% during the fourth quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after acquiring an additional 43 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after acquiring an additional 43 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STZ. Roth Mkm cut their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Barclays boosted their price target on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $296.78.

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.