Trivant Custom Portfolio Group LLC Cuts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Trivant Custom Portfolio Group LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 57.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,135 shares of the company’s stock after selling 5,665 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in Constellation Brands were worth $1,066,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Manning & Napier Advisors LLC bought a new position in shares of Constellation Brands during the second quarter valued at about $119,394,000. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares during the last quarter. Howland Capital Management LLC grew its holdings in shares of Constellation Brands by 3.0% in the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after acquiring an additional 4,051 shares in the last quarter. Seven Eight Capital LP increased its position in shares of Constellation Brands by 1,086.0% during the fourth quarter. Seven Eight Capital LP now owns 32,175 shares of the company’s stock valued at $7,778,000 after acquiring an additional 29,462 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Constellation Brands during the fourth quarter worth $958,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Price Performance

NYSE STZ traded up $3.02 during trading hours on Friday, hitting $246.67. The company had a trading volume of 1,351,402 shares, compared to its average volume of 1,183,067. The firm has a 50 day simple moving average of $246.53 and a 200 day simple moving average of $253.50. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.74 and a beta of 1.75. 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 (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $3.70 earnings per share. Equities research analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.64%. Constellation Brands’s payout ratio is currently 30.10%.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Friday. 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. Evercore ISI dropped their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday. BMO Capital Markets restated an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.75.

Insider Buying and Selling

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

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.