Constellation Brands, Inc. (NYSE:STZ) EVP Sells 3,237 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Constellation Brands Stock Up 0.5 %

Constellation Brands stock traded up $1.18 during trading hours on Tuesday, hitting $258.49. The stock had a trading volume of 618,503 shares, compared to its average volume of 1,224,947. The stock’s 50-day moving average price is $261.04 and its 200-day moving average price is $249.04. The stock has a market capitalization of $47.30 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95. Constellation Brands, Inc. has a 12-month low of $222.45 and a 12-month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the firm posted $1.98 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.56%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. BKM Wealth Management LLC purchased a new position in Constellation Brands in the fourth quarter worth about $28,000. Asset Dedication LLC lifted its stake in shares of Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of Constellation Brands in the first quarter worth approximately $35,000. Kapitalo Investimentos Ltda purchased a new position in shares of Constellation Brands in the fourth quarter worth approximately $35,000. Finally, First Financial Corp IN bought a new stake in Constellation Brands during the first quarter valued at approximately $35,000. 77.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Jefferies Financial Group boosted their target price on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Barclays raised their price target on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, April 15th. UBS Group boosted their price objective on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

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.