J.W. Cole Advisors Inc. Lowers Stock Position in Constellation Brands, Inc. (NYSE:STZ)

J.W. Cole Advisors Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 8.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,600 shares of the company’s stock after selling 151 shares during the period. J.W. Cole Advisors Inc.’s holdings in Constellation Brands were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. New Millennium Group LLC purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands in the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands during the first quarter valued at approximately $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Constellation Brands during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Roth Mkm cut their price objective on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Truist Financial reiterated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. Jefferies Financial Group upped their price target on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands Price Performance

NYSE:STZ opened at $252.85 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company has a 50-day moving average of $245.92 and a 200-day moving average of $253.96. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a market capitalization of $46.27 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the business posted $2.91 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.60%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated 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 owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock valued at $3,982,922 over the last ninety days. 12.19% of the stock is owned by insiders.

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.