Magnolia Capital Management Ltd. Buys 235 Shares of Constellation Brands, Inc. (NYSE:STZ)

Magnolia Capital Management Ltd. grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,180 shares of the company’s stock after acquiring an additional 235 shares during the quarter. Constellation Brands comprises about 0.9% of Magnolia Capital Management Ltd.’s portfolio, making the stock its 22nd biggest holding. Magnolia Capital Management Ltd.’s holdings in Constellation Brands were worth $1,077,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. New Millennium Group LLC acquired a new position in shares of Constellation Brands during the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands in the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the 2nd quarter worth about $32,000. First Financial Corp IN acquired a new position in Constellation Brands in the 1st quarter worth about $35,000. Finally, Opal Wealth Advisors LLC acquired a new position in Constellation Brands in the 2nd quarter worth about $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands 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 value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands 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 value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,221 shares of company stock worth $33,007,175 over the last three months. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Up 0.3 %

Shares of NYSE:STZ traded up $0.64 during midday trading on Tuesday, hitting $239.85. 329,702 shares of the company’s stock were exchanged, compared to its average volume of 1,188,621. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The company has a market cap of $43.89 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The stock has a 50 day moving average price of $246.52 and a 200-day moving average price of $251.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company earned $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

Analyst Ratings Changes

STZ has been the topic of a number of analyst reports. Truist Financial reduced their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Roth Mkm reiterated a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Evercore ISI reduced their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Bank of America reiterated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands 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.