Constellation Brands Inc (NYSE:STZ) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont cut its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 48.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,063 shares of the company’s stock after selling 7,483 shares during the quarter. Trust Co. of Vermont’s holdings in Constellation Brands were worth $1,480,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STZ. Berkshire Hathaway Inc acquired a new stake in Constellation Brands during the 4th quarter worth approximately $1,242,976,000. Norges Bank acquired a new stake in Constellation Brands during the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. lifted its holdings in Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. lifted its holdings in Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after buying an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock worth $542,391,000 after buying an additional 736,780 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.45% of the stock is currently owned by insiders.

Constellation Brands Trading Up 0.0%

NYSE STZ opened at $161.34 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56. The firm’s fifty day moving average price is $178.84 and its 200 day moving average price is $185.96. The company has a market capitalization of $28.72 billion, a price-to-earnings ratio of -316.35, a price-to-earnings-growth ratio of 8.92 and a beta of 0.70. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $264.45.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $2.26 EPS. On average, sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STZ. The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group reduced their target price on shares of Constellation Brands from $201.00 to $196.00 in a report on Friday, April 11th. Piper Sandler increased their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, June 6th. Morgan Stanley dropped their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Finally, Barclays set a $202.00 price objective on shares of Constellation Brands and gave the company an “overweight” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.91.

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.