Granite Bay Wealth Management LLC Buys Shares of 12,600 Constellation Brands, Inc. (NYSE:STZ)

Granite Bay Wealth Management LLC bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,600 shares of the company’s stock, valued at approximately $3,241,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Millennium Group LLC bought a new stake in Constellation Brands during the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands during the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands during the 2nd quarter valued at $32,000. YHB Investment Advisors Inc. bought a new stake in Constellation Brands during the 1st quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Constellation Brands in the 4th quarter worth $35,000. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays boosted their price target on Constellation Brands from $295.00 to $309.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 24th. Jefferies Financial Group boosted their price target on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. reduced their price target on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. UBS Group reduced their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Truist Financial reissued a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $297.12.

Insider Buying and Selling at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s 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 sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Down 0.3 %

Constellation Brands stock opened at $257.58 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. The business’s 50-day simple moving average is $246.37 and its two-hundred day simple moving average is $253.76. The company has a market cap of $47.13 billion, a PE ratio of 19.19, a PEG ratio of 1.74 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

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

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.