Truist Financial Corp Buys 20,209 Shares of Constellation Brands, Inc. (NYSE:STZ)

Truist Financial Corp lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 55.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,904 shares of the company’s stock after buying an additional 20,209 shares during the period. Truist Financial Corp’s holdings in Constellation Brands were worth $14,640,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STZ. Rafferty Asset Management LLC raised its holdings in shares of Constellation Brands by 4.4% in the fourth quarter. Rafferty Asset Management LLC now owns 12,541 shares of the company’s stock valued at $3,032,000 after purchasing an additional 525 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Constellation Brands by 3.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 10,496 shares of the company’s stock worth $2,537,000 after buying an additional 367 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Constellation Brands by 64.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,339 shares of the company’s stock valued at $4,675,000 after acquiring an additional 7,589 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Constellation Brands by 2.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 5,256 shares of the company’s stock valued at $1,271,000 after acquiring an additional 121 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Constellation Brands by 18.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 9,953 shares of the company’s stock worth $2,406,000 after acquiring an additional 1,542 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 1.2 %

Shares of Constellation Brands stock opened at $246.67 on Friday. The company has a 50 day simple moving average of $246.53 and a two-hundred day simple moving average of $253.50. The firm has a market cap of $45.13 billion, a PE ratio of 18.38, a PEG ratio of 1.74 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. 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 (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.21. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business earned $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. Constellation Brands’s payout ratio is 30.10%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands 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 transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock valued at $3,982,922 over the last quarter. 12.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

STZ has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday. Evercore ISI decreased their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday. Roth Mkm reiterated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday. UBS Group decreased their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Finally, Barclays upped their price target on shares of Constellation Brands from $295.00 to $309.00 and gave the company an “overweight” rating in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $295.75.

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.