Sanibel Captiva Trust Company Inc. Has $2.11 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Sanibel Captiva Trust Company Inc. increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 270.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,211 shares of the company’s stock after acquiring an additional 5,993 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Constellation Brands were worth $2,113,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Neo Ivy Capital Management bought a new position in Constellation Brands during the 2nd quarter valued at about $804,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Constellation Brands by 8.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 67,671 shares of the company’s stock valued at $17,410,000 after purchasing an additional 5,058 shares during the last quarter. Meridian Investment Counsel Inc. lifted its holdings in Constellation Brands by 1.6% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,110 shares of the company’s stock valued at $800,000 after purchasing an additional 50 shares during the last quarter. Raymond James & Associates lifted its holdings in Constellation Brands by 14.4% during the 2nd quarter. Raymond James & Associates now owns 443,084 shares of the company’s stock valued at $113,997,000 after purchasing an additional 55,932 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in Constellation Brands by 511.0% during the 2nd quarter. Oakworth Capital Inc. now owns 947 shares of the company’s stock valued at $244,000 after purchasing an additional 792 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $0.09 during trading on Tuesday, hitting $243.05. 1,105,774 shares of the company were exchanged, compared to its average volume of 1,183,750. The business’s 50 day moving average is $250.71 and its 200-day moving average is $253.94. The company has a market capitalization of $44.47 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results 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 company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.91 earnings per share. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.66%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Transactions at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,414 shares of company stock worth $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on STZ shares. Barclays upped their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Roth Mkm lowered their target price on Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research report on Friday, July 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Truist Financial reiterated a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $300.28.

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.