Constellation Brands Inc (NYSE:STZ) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its holdings in Constellation Brands by 39.4%, now owning 16,639 shares worth approximately $3.05 million.
• Analysts have given Constellation Brands an average rating of "Moderate Buy", with a recent target price increase from Truist Financial to $215.00.
• Constellation Brands announced a quarterly dividend of $1.02 per share, representing an annualized yield of 2.4%, with the payment set for August 14th.

Blair William & Co. IL cut its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 39.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,639 shares of the company's stock after selling 10,806 shares during the period. Blair William & Co. IL's holdings in Constellation Brands were worth $3,054,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital World Investors boosted its position in Constellation Brands by 3.4% in the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after buying an additional 324,690 shares during the last quarter. Berkshire Hathaway Inc acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $1,242,976,000. Capital Research Global Investors boosted its holdings in shares of Constellation Brands by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock valued at $641,336,000 after acquiring an additional 18,557 shares during the last quarter. FMR LLC increased its stake in shares of Constellation Brands by 18.3% in the fourth quarter. FMR LLC now owns 1,641,087 shares of the company's stock worth $362,680,000 after acquiring an additional 253,740 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Constellation Brands by 21.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,617,641 shares of the company's stock worth $357,480,000 after acquiring an additional 284,302 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Cowen restated a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Truist Financial raised Constellation Brands from a "hold" rating to a "buy" rating and boosted their price objective for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. CJS Securities dropped their target price on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Bank of America lifted their price target on Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Finally, Jefferies Financial Group upgraded Constellation Brands from a "hold" rating to a "buy" rating and upped their price objective for the stock from $194.00 to $205.00 in a research report on Monday, July 7th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $213.74.

Constellation Brands Price Performance

NYSE:STZ opened at $173.09 on Friday. The stock has a 50 day moving average of $169.28 and a two-hundred day moving average of $176.93. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $261.06. The firm has a market cap of $30.51 billion, a P/E ratio of -72.42, a price-to-earnings-growth ratio of 10.24 and a beta of 1.75. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the firm earned $3.57 earnings per share. The business's revenue was down 5.5% on a year-over-year basis. On average, analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio is -170.71%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is owned by corporate insiders.

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.

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