Constellation Brands Inc (NYSE:STZ) Shares Sold by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA cut its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,740 shares of the company's stock after selling 1,695 shares during the period. Roffman Miller Associates Inc. PA's holdings in Constellation Brands were worth $5,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its position in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after buying an additional 815 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Constellation Brands in the fourth quarter worth about $26,000. Golden State Wealth Management LLC grew its position in Constellation Brands by 137.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after acquiring an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Constellation Brands by 28.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after buying an additional 1,651 shares during the period. Finally, Johnson Investment Counsel Inc. raised its stake in shares of Constellation Brands by 8.1% during the first quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company's stock valued at $458,000 after acquiring an additional 187 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Performance

STZ traded down $1.81 on Monday, reaching $170.51. 2,565,421 shares of the stock were exchanged, compared to its average volume of 1,913,355. The company's 50-day moving average price is $177.11 and its 200 day moving average price is $183.02. 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 market capitalization of $30.35 billion, a PE ratio of -71.34, a PEG ratio of 9.57 and a beta of 0.67. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $264.45.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 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 for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm earned $3.57 EPS. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.39%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is -170.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STZ. Barclays set a $202.00 price target on Constellation Brands and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Bank of America upped their price target on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday. Jefferies Financial Group raised shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $194.00 to $205.00 in a report on Monday. Piper Sandler upped their target price on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Finally, CJS Securities cut their price target on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Insiders Place Their Bets

In other Constellation Brands news, 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 completion of the transaction, the executive vice president directly owned 3,126 shares of the company's stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.45% of the company's stock.

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.