Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Brown Financial Advisors

Brown Financial Advisors cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 41.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,614 shares of the company’s stock after selling 1,147 shares during the period. Brown Financial Advisors’ holdings in Constellation Brands were worth $416,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after acquiring an additional 21,454 shares during the last quarter. Legal & General Group Plc lifted its holdings in Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after acquiring an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after acquiring an additional 241,982 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on STZ shares. Truist Financial decreased their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Morgan Stanley decreased their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Roth Mkm restated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday, November 19th. Finally, Barclays decreased their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Constellation Brands Stock Performance

NYSE:STZ opened at $242.60 on Wednesday. The firm has a market capitalization of $44.05 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The business’s fifty day moving average price is $239.83 and its 200 day moving average price is $246.21. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87.

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

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

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.