Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 40,451 shares of the company’s stock after selling 1,395 shares during the quarter. Constellation Brands accounts for approximately 1.0% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 20th biggest position. Canandaigua National Bank & Trust Co.’s holdings in Constellation Brands were worth $10,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Capital International Investors grew its stake in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors increased its holdings in Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the last quarter. Capital Research Global Investors raised its stake in Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their price objective on Constellation Brands from $295.00 to $309.00 and gave the company an “overweight” rating in a report on Tuesday, September 24th. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Roth Mkm lowered their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Truist Financial reiterated a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, UBS Group decreased their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $297.88.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $243.65 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market cap of $44.58 billion, a PE ratio of 18.16, a P/E/G ratio of 1.74 and a beta of 1.75. The stock has a fifty day moving average price of $246.67 and a 200 day moving average price of $253.64. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business earned $2.91 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value 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 approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is 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.