Constellation Brands, Inc. (NYSE:STZ) Short Interest Update

Constellation Brands, Inc. (NYSE:STZ) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,440,000 shares, a growth of 62.3% from the October 31st total of 2,120,000 shares. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is currently 2.6 days. Approximately 2.3% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 over the last quarter. Company insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in shares of Constellation Brands in the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands in the second quarter worth $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands in the second quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the second quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Constellation Brands during the second quarter worth about $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Up 2.1 %

STZ stock traded up $4.98 during trading on Friday, reaching $240.95. The stock had a trading volume of 833,709 shares, compared to its average volume of 1,386,526. The firm has a fifty day moving average price of $241.72 and a 200 day moving average price of $246.75. 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 capitalization of $43.75 billion, a P/E ratio of 77.98, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands has a 1-year low of $224.76 and a 1-year high of $274.87.

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

Constellation Brands Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 130.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STZ. Truist Financial reduced their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. BNP Paribas assumed coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company decreased their target price on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.16.

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.