Atlantic Union Bankshares Corp Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Atlantic Union Bankshares Corp lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 14.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,718 shares of the company’s stock after selling 1,750 shares during the period. Atlantic Union Bankshares Corp’s holdings in Constellation Brands were worth $2,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Manning & Napier Advisors LLC bought a new stake in Constellation Brands during the 2nd quarter valued at approximately $119,394,000. Empowered Funds LLC grew its holdings in Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Constellation Brands in the third quarter worth $2,132,000. WealthPlan Investment Management LLC boosted its position in shares of Constellation Brands by 29.5% during the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Swedbank AB purchased a new position in Constellation Brands during the first quarter valued at $561,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Up 2.1 %

Shares of STZ opened at $240.85 on Friday. The firm has a fifty day moving average price of $241.72 and a 200-day moving average price of $246.80. 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 firm has a market capitalization of $43.73 billion, a P/E ratio of 77.94, a P/E/G ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $3.70 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is 130.74%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America reiterated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Wells Fargo & Company cut their price target on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Tuesday. Truist Financial decreased their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, Barclays cut their target price 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. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Insider Transactions at Constellation Brands

In related news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

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.