Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 33,072 shares of the company’s stock after selling 444 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Constellation Brands were worth $8,522,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STZ. Capital International Investors raised its position in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares in the last quarter. Capital World Investors increased its position in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the period. International Assets Investment Management LLC increased its position in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Constellation Brands in the 2nd quarter worth $119,394,000. Finally, Vanguard Group Inc. boosted its stake in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,367 shares of company stock valued at $32,539,170. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.4 %

Constellation Brands stock opened at $240.54 on Friday. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock has a market cap of $44.01 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.70 and a beta of 1.75. The company’s fifty day simple moving average is $246.56 and its 200-day simple moving average is $250.95.

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

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Analysts Set New Price Targets

STZ has been the subject of a number of research analyst reports. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Evercore ISI cut their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Truist Financial cut their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and reduced their target price for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.47.

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.