Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 19.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,782 shares of the company’s stock after selling 1,120 shares during the period. Cullinan Associates Inc.’s holdings in Constellation Brands were worth $1,300,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its holdings in Constellation Brands by 34.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,432 shares of the company’s stock valued at $1,114,000 after purchasing an additional 1,140 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Constellation Brands in the 3rd quarter valued at approximately $288,000. Gotham Asset Management LLC raised its holdings in shares of Constellation Brands by 75.1% in the 3rd quarter. Gotham Asset Management LLC now owns 11,740 shares of the company’s stock valued at $2,951,000 after purchasing an additional 5,037 shares in the last quarter. Shelton Capital Management lifted its position in shares of Constellation Brands by 350.5% during the 3rd quarter. Shelton Capital Management now owns 4,627 shares of the company’s stock worth $1,163,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Constellation Brands by 12.1% during the third quarter. Advisors Asset Management Inc. now owns 5,041 shares of the company’s stock worth $1,267,000 after purchasing an additional 546 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 1.0 %

STZ stock opened at $258.94 on Wednesday. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The company has a market cap of $47.38 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.71 and a beta of 0.87. The company has a 50 day moving average of $255.27 and a two-hundred day moving average of $253.86. 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 posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

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

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,031 shares of company stock worth $12,582,321. 12.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the subject of several analyst reports. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. BMO Capital Markets boosted their target price on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. 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. Finally, Piper Sandler started coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective for the company. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $298.37.

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.