Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Synovus Financial Corp

Synovus Financial Corp decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,740 shares of the company’s stock after selling 596 shares during the period. Synovus Financial Corp’s holdings in Constellation Brands were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Wilmington Savings Fund Society FSB raised its stake in shares of Constellation Brands by 260.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 20,495 shares of the company’s stock worth $5,281,000 after purchasing an additional 14,813 shares during the last quarter. Arvest Bank Trust Division acquired a new position in Constellation Brands in the 3rd quarter worth approximately $243,000. World Investment Advisors LLC increased its holdings in Constellation Brands by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 2,550 shares of the company’s stock worth $657,000 after buying an additional 683 shares during the period. Hohimer Wealth Management LLC raised its position in Constellation Brands by 3.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 4,239 shares of the company’s stock worth $1,092,000 after buying an additional 126 shares during the last quarter. Finally, Rehmann Capital Advisory Group acquired a new stake in Constellation Brands during the 3rd quarter valued at approximately $928,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Down 2.8 %

STZ opened at $232.92 on Tuesday. The company has a market cap of $42.29 billion, a PE ratio of 75.38, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a 50-day moving average price of $238.79 and a 200 day moving average price of $245.94. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $3.70 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Insider Transactions at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the topic of a number of research reports. Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. BNP Paribas initiated coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Wells Fargo & Company decreased their price objective on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Truist Financial dropped their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $288.70.

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.