Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 7.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,075 shares of the company’s stock after selling 86 shares during the period. Edgestream Partners L.P.’s holdings in Constellation Brands were worth $277,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of Constellation Brands by 3.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,593 shares of the company’s stock valued at $5,462,000 after acquiring an additional 843 shares in the last quarter. Commerce Bank lifted its position in shares of Constellation Brands by 5.6% in the fourth quarter. Commerce Bank now owns 14,011 shares of the company’s stock valued at $3,387,000 after acquiring an additional 742 shares in the last quarter. SageView Advisory Group LLC lifted its position in shares of Constellation Brands by 7.8% in the fourth quarter. SageView Advisory Group LLC now owns 949 shares of the company’s stock valued at $236,000 after acquiring an additional 69 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Constellation Brands by 34.1% in the fourth quarter. Intech Investment Management LLC now owns 16,445 shares of the company’s stock valued at $3,976,000 after acquiring an additional 4,186 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its position in shares of Constellation Brands by 155.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,264 shares of the company’s stock valued at $306,000 after acquiring an additional 770 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $254.85 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm has a market cap of $46.63 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock has a 50-day simple moving average of $245.53 and a 200-day simple moving average of $253.98.

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

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.59%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’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 transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’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 transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 in the last 90 days. 12.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on STZ shares. Roth Mkm reduced their price objective on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley reduced their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Truist Financial reiterated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. Jefferies Financial Group increased their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.29.

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.