Davis R M Inc. Decreases Holdings in Constellation Brands, Inc. (NYSE:STZ)

Davis R M Inc. trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,763 shares of the company’s stock after selling 4,389 shares during the period. Davis R M Inc.’s holdings in Constellation Brands were worth $19,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC purchased a new position in Constellation Brands in the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the second quarter valued at $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the second quarter worth $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the second quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at $36,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of STZ opened at $239.66 on Monday. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a market cap of $43.51 billion, a PE ratio of 77.56, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The stock has a 50-day moving average price of $243.04 and a 200-day moving average price of $247.41.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.70 earnings per share. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $290.47.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % 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. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 over the last 90 days. Corporate 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.