Constellation Brands Inc $STZ Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 9.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,266 shares of the company's stock after selling 4,984 shares during the period. Truist Financial Corp's holdings in Constellation Brands were worth $8,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Arlington Partners LLC acquired a new position in shares of Constellation Brands in the second quarter worth $2,333,000. Wesbanco Bank Inc. lifted its position in shares of Constellation Brands by 10.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company's stock worth $7,049,000 after purchasing an additional 4,204 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Constellation Brands by 969.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company's stock worth $13,609,000 after purchasing an additional 75,834 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after purchasing an additional 815 shares during the last quarter. Finally, Glenview Trust co lifted its position in shares of Constellation Brands by 6.8% during the 1st quarter. Glenview Trust co now owns 69,427 shares of the company's stock worth $12,741,000 after purchasing an additional 4,421 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

Shares of STZ opened at $142.20 on Monday. Constellation Brands Inc has a 1-year low of $131.20 and a 1-year high of $247.96. The stock has a market cap of $25.07 billion, a PE ratio of -59.50, a price-to-earnings-growth ratio of 0.43 and a beta of 1.75. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The firm has a fifty day moving average price of $153.72 and a 200 day moving average price of $169.35.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands's payout ratio is -170.71%.

Wall Street Analysts Forecast Growth

STZ has been the subject of several recent analyst reports. Raymond James Financial raised shares of Constellation Brands to a "strong-buy" rating in a research report on Monday, July 7th. Citigroup decreased their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. Needham & Company LLC decreased their price objective on shares of Constellation Brands from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Constellation Brands in a research report on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Constellation Brands from $182.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $188.96.

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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