Herbst Group LLC Has $3.17 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Herbst Group LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,896 shares of the company’s stock after selling 100 shares during the period. Constellation Brands accounts for approximately 2.2% of Herbst Group LLC’s investment portfolio, making the stock its 15th biggest position. Herbst Group LLC’s holdings in Constellation Brands were worth $3,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC grew its stake in shares of Constellation Brands by 323.1% in the second quarter. CVA Family Office LLC now owns 110 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. AXS Investments LLC acquired a new stake in Constellation Brands during the fourth quarter worth approximately $26,000. Old North State Trust LLC grew its position in Constellation Brands by 500.0% during the first quarter. Old North State Trust LLC now owns 120 shares of the company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Zions Bancorporation N.A. grew its position in Constellation Brands by 135.6% during the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock worth $32,000 after buying an additional 80 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in Constellation Brands during the fourth quarter worth approximately $34,000. 88.99% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.1 %

NYSE:STZ traded down $0.24 during mid-day trading on Tuesday, hitting $260.45. 53,142 shares of the company’s stock were exchanged, compared to its average volume of 1,176,376. The company has a 50 day simple moving average of $262.87 and a 200-day simple moving average of $242.25. The company has a quick ratio of 0.53, a current ratio of 1.14 and a debt-to-equity ratio of 1.23. Constellation Brands, Inc. has a fifty-two week low of $208.12 and a fifty-two week high of $273.65.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, June 30th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.83 by $0.08. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.47 billion. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.66 EPS. As a group, analysts expect that Constellation Brands, Inc. will post 11.59 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.37%. Constellation Brands’s dividend payout ratio (DPR) is currently -194.54%.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $267.96, for a total value of $415,338.00. Following the transaction, the chief financial officer now owns 9,491 shares in the company, valued at approximately $2,543,208.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Garth Hankinson sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $267.96, for a total value of $415,338.00. Following the transaction, the chief financial officer now owns 9,491 shares in the company, valued at approximately $2,543,208.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 49,425 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $267.90, for a total value of $13,240,957.50. Following the sale, the chief executive officer now owns 9,316 shares in the company, valued at approximately $2,495,756.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,819 shares of company stock worth $27,054,755. Company insiders own 16.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STZ. BMO Capital Markets increased their price target on Constellation Brands from $265.00 to $290.00 and gave the stock an “outperform” rating in a research report on Monday, July 3rd. Truist Financial increased their price objective on shares of Constellation Brands from $220.00 to $240.00 and gave the stock a “hold” rating in a research note on Monday, July 3rd. Wells Fargo & Company increased their price objective on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Morgan Stanley increased their price objective on shares of Constellation Brands from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a research note on Friday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $270.05.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.