Constellation Brands Inc (NYSE:STZ) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co lowered its stake in Constellation Brands Inc (NYSE:STZ) by 6.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,758 shares of the company’s stock after selling 887 shares during the quarter. CENTRAL TRUST Co’s holdings in Constellation Brands were worth $2,341,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of STZ. Berkshire Hathaway Inc acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $1,242,976,000. Norges Bank acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $445,883,000. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. grew its stake in shares of Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after buying an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Constellation Brands by 42.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock valued at $542,391,000 after buying an additional 736,780 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ opened at $160.55 on Wednesday. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of -314.81, a PEG ratio of 8.82 and a beta of 0.70. The stock has a 50 day moving average of $182.59 and a 200-day moving average of $189.92. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52 week low of $159.91 and a 52 week high of $265.70.

Constellation Brands (NYSE:STZ) last announced 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. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 EPS. As a group, analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s payout ratio is presently -800.00%.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their target price on Constellation Brands from $289.00 to $233.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $203.00 to $194.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. DA Davidson lowered their price objective on Constellation Brands from $272.00 to $241.00 in a research note on Friday, April 11th. CJS Securities lowered their price objective on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Finally, Truist Financial upgraded Constellation Brands from a “hold” rating to a “buy” rating and raised their price objective for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.45% 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.