Constellation Brands, Inc. (NYSE:STZ) CEO Sells $6,089,500.00 in Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Constellation Brands Trading Down 1.9 %

NYSE:STZ opened at $237.51 on Friday. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The firm has a 50-day moving average price of $244.13 and a two-hundred day moving average price of $248.09. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The firm has a market cap of $43.12 billion, a price-to-earnings ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results 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 return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $3.70 earnings per share. On average, equities analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders 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 dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Hedge Funds Weigh In On Constellation Brands

Institutional investors have recently added to or reduced their stakes in the stock. New Millennium Group LLC purchased a new position in Constellation Brands in the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Constellation Brands in the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands in the second quarter valued at approximately $36,000. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on STZ shares. Morgan Stanley lowered their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Roth Mkm restated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Company 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.