Independent Advisor Alliance Sells 76 Shares of Constellation Brands, Inc. (NYSE:STZ)

Independent Advisor Alliance trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,097 shares of the company’s stock after selling 76 shares during the quarter. Independent Advisor Alliance’s holdings in Constellation Brands were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake 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.

Constellation Brands Trading Up 1.0 %

NYSE:STZ opened at $235.97 on Thursday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a market cap of $42.84 billion, a PE ratio of 76.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. The company has a 50 day simple moving average of $242.12 and a two-hundred day simple moving average of $247.00.

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

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. Constellation Brands’s payout ratio is presently 130.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on STZ shares. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Evercore ISI dropped their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Truist Financial lowered their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $289.16.

Insider Buying and Selling at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last ninety days. 12.19% of the stock is currently owned by company insiders.

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.