Citizens Business Bank Has $3.65 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Citizens Business Bank trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 14,176 shares of the company’s stock after selling 517 shares during the quarter. Citizens Business Bank’s holdings in Constellation Brands were worth $3,653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter worth $25,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands during the 2nd quarter worth about $32,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Constellation Brands during the 2nd quarter worth about $36,000. Wellington Shields & Co. LLC grew its stake in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after buying an additional 50 shares during the period. Finally, Eastern Bank bought a new stake in Constellation Brands in the 3rd quarter valued at about $39,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.7 %

STZ opened at $242.60 on Wednesday. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company’s 50-day moving average price is $239.83 and its two-hundred day moving average price is $246.21. The stock has a market cap of $44.05 billion, a price-to-earnings ratio of 78.51, a PEG ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. Constellation Brands’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Wells Fargo & Company reduced their price target on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Morgan Stanley lowered 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. Truist Financial reduced their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Finally, Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $288.70.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. The trade was a 77.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. Company insiders own 12.19% of the company’s stock.

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.