Valley National Advisers Inc. Cuts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Valley National Advisers Inc. decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,611 shares of the company’s stock after selling 783 shares during the period. Valley National Advisers Inc.’s holdings in Constellation Brands were worth $2,986,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STZ. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the 2nd quarter valued at $29,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands in the first quarter valued at about $35,000. Kapitalo Investimentos Ltda purchased a new position in Constellation Brands in the fourth quarter worth about $35,000. First Financial Corp IN purchased a new stake in shares of Constellation Brands during the 1st quarter valued at about $35,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 over the last 90 days. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

STZ has been the subject of several recent research reports. Truist Financial reissued a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Wednesday, July 31st. Jefferies Financial Group increased their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Barclays lifted their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, UBS Group increased their price target on Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $300.28.

Constellation Brands Trading Up 0.2 %

Shares of NYSE STZ traded up $0.46 during mid-day trading on Friday, reaching $245.70. The company had a trading volume of 588,456 shares, compared to its average volume of 1,186,995. The stock has a market cap of $44.96 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The business’s 50-day moving average is $250.88 and its 200-day moving average is $253.91. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

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

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Constellation Brands 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.