Constellation Brands (NYSE:STZ) Stock Price Down 2.8%

Constellation Brands, Inc. (NYSE:STZ) traded down 2.8% during trading on Wednesday . The stock traded as low as $251.11 and last traded at $251.80. 1,333,320 shares were traded during mid-day trading, an increase of 12% from the average session volume of 1,194,493 shares. The stock had previously closed at $258.94.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STZ. HSBC upped their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their price target on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Evercore ISI raised their target price on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, BMO Capital Markets lifted their price target on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.63.

Constellation Brands Stock Performance

The company has a market capitalization of $45.81 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. 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 firm has a 50 day moving average price of $255.22 and a two-hundred day moving average price of $254.02.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.91 EPS. On average, research analysts expect that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio is currently 43.07%.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,031 shares of company stock worth $12,582,321. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC increased its position in shares of Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after acquiring an additional 39 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after purchasing an additional 41 shares in the last quarter. Burns Matteson Capital Management LLC increased its holdings in shares of Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after buying an additional 42 shares during the last quarter. 1620 Investment Advisors Inc. increased its holdings in shares of Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after buying an additional 42 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its holdings in shares of Constellation Brands by 3.5% during the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after purchasing an additional 43 shares during 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.