Independence Bank of Kentucky Sells 219 Shares of Constellation Brands Inc $STZ

Independence Bank of Kentucky lowered its holdings in Constellation Brands Inc (NYSE:STZ) by 36.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 376 shares of the company’s stock after selling 219 shares during the quarter. Independence Bank of Kentucky’s holdings in Constellation Brands were worth $61,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in Constellation Brands during the first quarter valued at approximately $32,000. Rakuten Securities Inc. boosted its stake in Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Constellation Brands in the first quarter valued at approximately $38,000. Flaharty Asset Management LLC acquired a new stake in Constellation Brands in the first quarter valued at approximately $39,000. Finally, WPG Advisers LLC acquired a new stake in Constellation Brands in the first quarter valued at approximately $43,000. Institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares of the company’s stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 12.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Constellation Brands from $170.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Sanford C. Bernstein cut their price target on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Piper Sandler upped their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, June 6th. UBS Group upped their price target on shares of Constellation Brands from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company cut their price target on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $191.28.

Constellation Brands Stock Up 2.9%

NYSE:STZ opened at $136.37 on Tuesday. The firm has a market capitalization of $24.04 billion, a P/E ratio of -57.06, a PEG ratio of 0.40 and a beta of 1.75. Constellation Brands Inc has a 1-year low of $131.20 and a 1-year high of $261.06. The company’s fifty day moving average price is $156.65 and its 200-day moving average price is $170.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.57 EPS. As a group, equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

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.