Short Interest in Constellation Brands, Inc. (NYSE:STZ) Drops By 13.4%

Constellation Brands, Inc. (NYSE:STZ) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 5,100,000 shares, a drop of 13.4% from the April 30th total of 5,890,000 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average daily volume of 2,280,000 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analyst Weigh In

A number of research firms recently commented on STZ. Wall Street Zen raised Constellation Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. Roth Mkm lowered their price target on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Morgan Stanley reduced their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price target on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.74.

Constellation Brands Trading Down 3.6%

Shares of STZ stock opened at $170.60 on Friday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands has a fifty-two week low of $160.46 and a fifty-two week high of $265.70. The firm’s 50 day moving average price is $184.17 and its two-hundred day moving average price is $194.18. The stock has a market cap of $30.37 billion, a price-to-earnings ratio of 45.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts anticipate that Constellation Brands will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a $1.02 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.39%. Constellation Brands’s dividend payout ratio (DPR) is -800.00%.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president now owns 3,126 shares of the company’s stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after buying an additional 187 shares in the last quarter. Caprock Group LLC increased its position in shares of Constellation Brands by 32.0% during the fourth quarter. Caprock Group LLC now owns 4,845 shares of the company’s stock worth $1,071,000 after acquiring an additional 1,175 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Constellation Brands by 6.4% in the fourth quarter. DAVENPORT & Co LLC now owns 12,258 shares of the company’s stock worth $2,709,000 after acquiring an additional 740 shares in the last quarter. Spire Wealth Management boosted its holdings in Constellation Brands by 7.4% in the fourth quarter. Spire Wealth Management now owns 2,727 shares of the company’s stock valued at $603,000 after purchasing an additional 187 shares during the last quarter. Finally, Tempus Wealth Planning LLC grew its stake in Constellation Brands by 22.3% during the 4th quarter. Tempus Wealth Planning LLC now owns 2,225 shares of the company’s stock valued at $492,000 after purchasing an additional 406 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

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.