OLD National Bancorp IN Has $706,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

OLD National Bancorp IN reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 52.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,848 shares of the company's stock after selling 4,208 shares during the period. OLD National Bancorp IN's holdings in Constellation Brands were worth $706,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its holdings in shares of Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock worth $1,626,000 after acquiring an additional 59 shares during the period. Piscataqua Savings Bank increased its holdings in 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 acquiring an additional 62 shares in the last quarter. Moody National Bank Trust Division grew its stake in Constellation Brands by 0.9% during the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after acquiring an additional 64 shares in the last quarter. Philip James Wealth Mangement LLC increased its position in Constellation Brands by 8.0% in the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock worth $204,000 after purchasing an additional 68 shares during the last quarter. Finally, Barden Capital Management Inc. raised its position in Constellation Brands by 1.3% during the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock valued at $1,232,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 0.1%

Shares of NYSE:STZ traded down $0.11 during trading on Thursday, reaching $168.93. 1,108,504 shares of the company were exchanged, compared to its average volume of 2,475,222. The business's fifty day simple moving average is $183.39 and its 200-day simple moving average is $192.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $265.70. The firm has a market capitalization of $30.07 billion, a PE ratio of 45.41, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.26 earnings per share. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Tuesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio is -800.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on STZ shares. Morgan Stanley lowered their price target on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. BMO Capital Markets reduced their price target on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Citigroup decreased their price target on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Finally, Jefferies Financial Group lowered their price objective on shares of Constellation Brands from $201.00 to $196.00 in a research note on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $220.00.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's 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 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.19% of the company's stock.

About Constellation Brands

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.