Summit Trail Advisors LLC Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Summit Trail Advisors LLC lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 9.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,925 shares of the company’s stock after purchasing an additional 262 shares during the quarter. Summit Trail Advisors LLC’s holdings in Constellation Brands were worth $754,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands in the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands in the second quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands during the second quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands during the second quarter valued at approximately $36,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STZ. Bank of America reissued a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. BMO Capital Markets cut their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Evercore ISI cut their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Truist Financial reduced 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. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.83.

Insider Activity

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, 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 ninety days, insiders have sold 189,956 shares of company stock worth $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 0.8 %

Shares of NYSE STZ opened at $241.67 on Tuesday. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The firm has a market cap of $43.88 billion, a PE ratio of 78.21, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The business has a fifty day simple moving average of $242.80 and a two-hundred day simple moving average of $247.27. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its quarterly 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. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.67%. Constellation Brands’s payout ratio is presently 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.