Sterling Investment Counsel LLC Buys 80 Shares of Constellation Brands, Inc. (NYSE:STZ)

by · The Markets Daily

Sterling Investment Counsel LLC raised its stake in Constellation Brands, Inc. (NYSE:STZ – Free Report) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,752 shares of the company’s stock after buying an additional 80 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Constellation Brands were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Park Avenue Securities LLC raised its holdings in shares of Constellation Brands by 43.6% in the first quarter. Park Avenue Securities LLC now owns 3,230 shares of the company’s stock valued at $878,000 after purchasing an additional 980 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in Constellation Brands by 11.1% during the first quarter. AdvisorNet Financial Inc now owns 572 shares of the company’s stock worth $155,000 after buying an additional 57 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Constellation Brands by 3.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 9,100 shares of the company’s stock worth $2,473,000 after buying an additional 336 shares during the last quarter. First Financial Corp IN bought a new position in Constellation Brands during the first quarter worth $35,000. Finally, Atlas Capital Advisors LLC boosted its position in Constellation Brands by 36.0% during the first quarter. Atlas Capital Advisors LLC now owns 2,268 shares of the company’s stock worth $616,000 after purchasing an additional 600 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert Sands sold 119,274 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,221 shares of company stock worth $33,007,175. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of a number of research analyst reports. Evercore ISI reduced their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research 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 research report on Tuesday, October 15th. Morgan Stanley reduced their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Truist Financial cut their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Finally, Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Check Out Our Latest Report on STZ

Constellation Brands Trading Down 0.5 %

Shares of Constellation Brands stock traded down $1.21 on Wednesday, reaching $240.40. 277,989 shares of the company’s stock were exchanged, compared to its average volume of 1,187,685. The company has a market capitalization of $43.99 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $227.64 and a 52 week high of $274.87. The firm’s 50-day moving average is $246.55 and its two-hundred day moving average is $251.01. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ – Get Free Report) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.70 EPS. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued 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 of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

Constellation Brands 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.

Further Reading