Constellation Brands (NYSE:STZ) EVP Sells $631,258.68 in Stock

Constellation Brands Inc (NYSE:STZ) EVP James Bourdeau sold 4,407 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Constellation Brands Stock Performance

Shares of NYSE:STZ traded down $2.14 on Wednesday, hitting $140.39. The company had a trading volume of 2,227,350 shares, compared to its average volume of 2,281,861. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $196.91. The stock has a market cap of $24.18 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 3.12 and a beta of 1.75. The stock has a 50 day moving average price of $153.48 and a 200 day moving average price of $148.06. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company earned $2.63 earnings per share. The company’s quarterly revenue was down 11.3% on a year-over-year basis. Analysts expect that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be issued a $1.03 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, April 29th. Constellation Brands’s dividend payout ratio is presently 42.96%.

Wall Street Analyst Weigh In

Several equities analysts have commented on STZ shares. Evercore set a $175.00 price objective on shares of Constellation Brands and gave the company an “outperform” rating in a report on Friday, April 10th. Barclays upped their price objective on shares of Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $185.00 price objective on shares of Constellation Brands in a report on Friday, April 10th. Morgan Stanley upped their price target on shares of Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Finally, Needham & Company LLC upped their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.30.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its stake in shares of Constellation Brands by 16.9% in the first quarter. First Trust Advisors LP now owns 312,977 shares of the company’s stock valued at $46,947,000 after acquiring an additional 45,239 shares in the last quarter. Westpac Banking Corp grew its stake in shares of Constellation Brands by 86.8% in the first quarter. Westpac Banking Corp now owns 833 shares of the company’s stock valued at $125,000 after acquiring an additional 387 shares in the last quarter. ABN Amro Investment Solutions grew its stake in shares of Constellation Brands by 25.1% in the first quarter. ABN Amro Investment Solutions now owns 14,638 shares of the company’s stock valued at $2,196,000 after acquiring an additional 2,940 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new position in shares of Constellation Brands in the first quarter valued at about $98,000. Finally, Meeder Advisory Services Inc. grew its stake in Constellation Brands by 9.6% during the first quarter. Meeder Advisory Services Inc. now owns 2,069 shares of the company’s stock worth $310,000 after buying an additional 181 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.