Summit Trail Advisors LLC Sells 462 Shares of Constellation Brands, Inc. (NYSE:STZ)

Summit Trail Advisors LLC decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,663 shares of the company’s stock after selling 462 shares during the period. Summit Trail Advisors LLC’s holdings in Constellation Brands were worth $685,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors increased its position in Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands during the second quarter valued at $119,394,000. Vanguard Group Inc. lifted its holdings in Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the period. Finally, Palestra Capital Management LLC purchased a new position in Constellation Brands in the fourth quarter worth about $83,195,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.1 %

STZ stock opened at $248.09 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The business has a 50 day simple moving average of $245.42 and a two-hundred day simple moving average of $253.98. The company has a market capitalization of $45.39 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.91 earnings per share. Research analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Insider Buying and Selling

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,414 shares of company stock worth $3,982,922. Insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of several recent research reports. Truist Financial reiterated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, Roth Mkm cut their price target on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.29.

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.