Burns J W & Co. Inc. NY Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Burns J W & Co. Inc. NY reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,988 shares of the company’s stock after selling 115 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Constellation Brands were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the second quarter worth about $32,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands in the first quarter worth about $35,000. Finally, First Financial Corp IN bought a new stake in Constellation Brands in the first quarter valued at about $35,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on STZ. UBS Group reduced 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. Truist Financial decreased their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday. Morgan Stanley lowered their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.75.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Constellation Brands stock traded up $3.02 during mid-day trading on Friday, hitting $246.67. 1,351,402 shares of the company’s stock traded hands, compared to its average volume of 1,183,067. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The company has a market cap of $45.13 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The firm has a 50 day moving average price of $246.53 and a 200 day moving average price of $253.50. 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 issued its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.70 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

About Constellation Brands

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.