Michael Mcgrew Sells 3,237 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Constellation Brands Trading Down 0.1 %

Shares of STZ opened at $258.36 on Thursday. The firm has a market cap of $47.27 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $223.01 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The business has a 50-day moving average of $261.27 and a 200 day moving average of $249.24.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on STZ shares. Bank of America upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Piper Sandler assumed coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective for the company. BMO Capital Markets upped their price target on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Royal Bank of Canada increased their price target on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its holdings in shares of Constellation Brands by 1.5% in the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares during the period. Capital Research Global Investors increased its stake in Constellation Brands by 12.9% in the 4th quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock worth $543,361,000 after acquiring an additional 256,738 shares during the last quarter. Norges Bank purchased a new stake in shares of Constellation Brands in the 4th quarter valued at about $443,844,000. Northern Trust Corp boosted its position in shares of Constellation Brands by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock valued at $376,752,000 after acquiring an additional 53,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after purchasing an additional 388,390 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

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.