Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 19.8% during the third quarter, Holdings Channel.com reports. The firm owned 6,396 shares of the company’s stock after selling 1,580 shares during the period. Xcel Wealth Management LLC’s holdings in Constellation Brands were worth $1,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new stake in Constellation Brands during the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands during the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the 2nd quarter worth $32,000. First Financial Corp IN acquired a new stake in Constellation Brands during the 1st quarter worth $35,000. Finally, LRI Investments LLC acquired a new stake in Constellation Brands during the 1st quarter worth $37,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on STZ. Barclays cut their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Truist Financial lowered their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Morgan Stanley lowered their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $1.69 during trading hours on Tuesday, reaching $240.90. The company’s stock had a trading volume of 403,057 shares, compared to its average volume of 1,188,980. The company’s 50 day simple moving average is $246.52 and its 200 day simple moving average is $251.18. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a one year low of $227.64 and a one year high of $274.87. The stock has a market cap of $44.08 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm posted $3.70 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,221 shares of company stock worth $33,007,175 in the last ninety days. 12.19% of the stock is owned by insiders.

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.