Insider Selling: Constellation Brands, Inc. (NYSE:STZ) CEO Sells 4,013 Shares of Stock

Constellation Brands, Inc. (NYSE:STZ) CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Constellation Brands Price Performance

NYSE STZ traded up $1.90 during trading hours on Tuesday, reaching $261.64. The company’s stock had a trading volume of 1,049,820 shares, compared to its average volume of 1,269,283. The firm has a market capitalization of $47.83 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.76 and a beta of 0.97. The company’s 50-day moving average is $258.44 and its two-hundred day moving average is $247.40. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 EPS. On average, equities analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s payout ratio is 37.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. HSBC upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Barclays boosted their price target on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. UBS Group upped their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. Jefferies Financial Group lifted their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada raised their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its stake in Constellation Brands by 7.4% during the 3rd quarter. CWM LLC now owns 4,453 shares of the company’s stock worth $1,119,000 after purchasing an additional 306 shares during the last quarter. AE Wealth Management LLC grew its stake in Constellation Brands by 32.0% during the 3rd quarter. AE Wealth Management LLC now owns 4,288 shares of the company’s stock valued at $1,078,000 after acquiring an additional 1,040 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Constellation Brands by 34.7% in the 3rd quarter. Geneos Wealth Management Inc. now owns 322 shares of the company’s stock valued at $81,000 after acquiring an additional 83 shares during the last quarter. Ritholtz Wealth Management purchased a new position in Constellation Brands in the 3rd quarter worth approximately $572,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Constellation Brands by 8.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,967 shares of the company’s stock worth $490,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 77.34% 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.