E&G Advisors LP Trims Stock Position in Constellation Brands, Inc. (NYSE:STZ)

E&G Advisors LP cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 1,095 shares of the company’s stock after selling 50 shares during the period. E&G Advisors LP’s holdings in Constellation Brands were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. raised its position in Constellation Brands by 2.6% during the third quarter. First Citizens Bank & Trust Co. now owns 2,898 shares of the company’s stock valued at $747,000 after acquiring an additional 74 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Constellation Brands by 181.3% during the 3rd quarter. Blue Trust Inc. now owns 1,021 shares of the company’s stock valued at $263,000 after purchasing an additional 658 shares in the last quarter. Riverview Trust Co lifted its stake in shares of Constellation Brands by 37.3% in the 3rd quarter. Riverview Trust Co now owns 346 shares of the company’s stock valued at $89,000 after purchasing an additional 94 shares during the period. West Oak Capital LLC lifted its stake in shares of Constellation Brands by 3.3% in the 3rd quarter. West Oak Capital LLC now owns 7,473 shares of the company’s stock valued at $1,926,000 after purchasing an additional 238 shares during the period. Finally, Stratos Wealth Advisors LLC boosted its holdings in Constellation Brands by 6.4% during the third quarter. Stratos Wealth Advisors LLC now owns 2,913 shares of the company’s stock worth $751,000 after buying an additional 175 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,221 shares of company stock worth $33,007,175 in the last three months. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

NYSE:STZ opened at $241.52 on Friday. The company has a market cap of $44.19 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $227.64 and a twelve month high of $274.87. The company’s 50-day moving average price is $246.51 and its 200-day moving average price is $251.47. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 EPS. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Analysts Set New Price Targets

STZ has been the subject of a number of recent analyst reports. Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. UBS Group lowered their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

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.