Constellation Brands Inc (NYSE:STZ) Shares Sold by BankPlus Trust Department

BankPlus Trust Department decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 92.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196 shares of the company's stock after selling 2,349 shares during the period. BankPlus Trust Department's holdings in Constellation Brands were worth $36,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $29,000. Optiver Holding B.V. bought a new stake in Constellation Brands in the 4th quarter worth approximately $31,000. Laurel Wealth Advisors LLC bought a new stake in Constellation Brands in the 1st quarter worth approximately $32,000. Rakuten Securities Inc. grew its position in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after purchasing an additional 161 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in Constellation Brands in the 4th quarter worth approximately $44,000. Institutional investors own 77.34% of the company's stock.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company lowered their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Jefferies Financial Group upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their target price for the company from $194.00 to $205.00 in a research note on Monday, July 7th. BMO Capital Markets lowered their target price on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Roth Mkm decreased their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Constellation Brands Price Performance

STZ traded up $0.15 during midday trading on Friday, hitting $172.27. 1,370,929 shares of the company traded hands, compared to its average volume of 1,926,059. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $30.67 billion, a price-to-earnings ratio of -72.08, a PEG ratio of 10.42 and a beta of 0.67. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06. The business has a 50 day simple moving average of $175.56 and a two-hundred day simple moving average of $181.40.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the prior year, the business posted $3.57 earnings per share. The business's quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is currently -170.71%.

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.