Constellation Brands Inc (NYSE:STZ) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 57.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,224 shares of the company's stock after selling 11,054 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Constellation Brands were worth $1,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Piscataqua Savings Bank boosted its position in shares of Constellation Brands by 1.7% in the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock worth $683,000 after purchasing an additional 62 shares in the last quarter. Moody National Bank Trust Division boosted its position in shares of Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock worth $1,283,000 after purchasing an additional 64 shares in the last quarter. Barden Capital Management Inc. boosted its position in shares of Constellation Brands by 1.3% in the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after purchasing an additional 72 shares in the last quarter. Vista Investment Management boosted its position in shares of Constellation Brands by 0.7% in the 4th quarter. Vista Investment Management now owns 11,479 shares of the company's stock worth $2,537,000 after purchasing an additional 84 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Constellation Brands by 4.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company's stock worth $439,000 after purchasing an additional 86 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded up $1.08 on Tuesday, hitting $164.38. The company's stock had a trading volume of 2,577,516 shares, compared to its average volume of 1,855,484. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $265.69. The firm has a fifty day moving average price of $180.28 and a 200-day moving average price of $187.27. The company has a market capitalization of $29.26 billion, a price-to-earnings ratio of -322.32, a price-to-earnings-growth ratio of 9.01 and a beta of 0.70.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business earned $2.26 EPS. Constellation Brands's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is currently -800.00%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Piper Sandler raised their price objective on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. Bank of America lowered their price target on Constellation Brands from $195.00 to $180.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Jefferies Financial Group lowered their price target on Constellation Brands from $201.00 to $196.00 in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their price target on Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus price target of $215.87.

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.