Short Interest in Constellation Brands, Inc. (NYSE:STZ) Rises By 62.3%

Constellation Brands, Inc. (NYSE:STZ) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,440,000 shares, an increase of 62.3% from the October 31st total of 2,120,000 shares. Based on an average trading volume of 1,300,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.3% of the shares of the company are sold short.

Constellation Brands Stock Up 2.1 %

Shares of STZ traded up $4.98 during trading hours on Friday, reaching $240.95. The company’s stock had a trading volume of 833,709 shares, compared to its average volume of 1,386,526. The company has a 50 day moving average of $241.72 and a two-hundred day moving average of $246.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market cap of $43.75 billion, a price-to-earnings ratio of 77.98, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands has a 1-year low of $224.76 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results 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 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 posted $3.70 EPS. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts predict that Constellation Brands will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 in the last three months. 12.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors have recently made changes to their positions in STZ. New Millennium Group LLC bought a new position in Constellation Brands during the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands during the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands during the 2nd quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands in the second quarter worth $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays decreased their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Truist Financial dropped their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. BMO Capital Markets reduced their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Finally, Morgan Stanley decreased their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

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.