Legacy Private Trust Co. Sells 695 Shares of Constellation Brands, Inc. (NYSE:STZ)

Legacy Private Trust Co. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 20,241 shares of the company’s stock after selling 695 shares during the period. Legacy Private Trust Co.’s holdings in Constellation Brands were worth $4,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of STZ. Versant Capital Management Inc grew its holdings in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at $36,000. Wellington Shields & Co. LLC grew its stake in shares of Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares during the period. Eastern Bank purchased a new stake in Constellation Brands in the 3rd quarter worth about $39,000. Finally, FSA Wealth Management LLC bought a new stake in Constellation Brands in the 3rd quarter valued at about $42,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

NYSE STZ traded up $0.66 during trading hours on Wednesday, reaching $219.17. 1,652,330 shares of the stock traded hands, compared to its average volume of 1,715,446. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a 50 day simple moving average of $233.49 and a two-hundred day simple moving average of $242.46. Constellation Brands, Inc. has a 1 year low of $217.47 and a 1 year high of $274.87. The company has a market cap of $39.79 billion, a price-to-earnings ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

STZ has been the subject of a number of research reports. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday. Finally, 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 research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $284.75.

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.