First Trust Direct Indexing L.P. Has $848,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

by · The Cerbat Gem

First Trust Direct Indexing L.P. cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,292 shares of the company’s stock after selling 373 shares during the period. First Trust Direct Indexing L.P.’s holdings in Constellation Brands were worth $848,000 as of its most recent SEC filing.

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

Constellation Brands Price Performance

NYSE:STZ opened at $232.77 on Friday. Constellation Brands, Inc. has a 52-week low of $231.70 and a 52-week high of $274.87. The stock’s 50-day simple moving average is $245.43 and its 200 day simple moving average is $249.70. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market cap of $42.26 billion, a P/E ratio of 75.33, a P/E/G ratio of 1.66 and a beta of 0.88.

Constellation Brands (NYSE:STZ – Get Free Report) last posted its 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 return on equity of 25.34% and a net margin of 5.29%. The company 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. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,793 shares of company stock worth $34,300,914. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on STZ. Bank of America reiterated a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.47.

Read Our Latest Research Report on STZ

Constellation Brands Company Profile

(Free Report)

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.

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