Herbst Group LLC Cuts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Herbst Group LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,896 shares of the company’s stock after selling 100 shares during the quarter. Constellation Brands accounts for approximately 2.2% of Herbst Group LLC’s investment portfolio, making the stock its 15th largest position. Herbst Group LLC’s holdings in Constellation Brands were worth $3,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Constellation Brands by 100.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,890,702 shares of the company’s stock worth $1,782,432,000 after acquiring an additional 3,961,836 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Constellation Brands by 84,839.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after buying an additional 3,738,028 shares during the period. Norges Bank purchased a new position in Constellation Brands during the fourth quarter worth $373,796,000. Morgan Stanley boosted its stake in Constellation Brands by 31.3% during the fourth quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after buying an additional 908,486 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Constellation Brands by 781.8% during the first quarter. Van ECK Associates Corp now owns 507,190 shares of the company’s stock worth $114,569,000 after buying an additional 449,672 shares during the period. 88.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Robert Lee Hanson sold 12,299 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $268.10, for a total value of $3,297,361.90. Following the completion of the sale, the executive vice president now owns 11,862 shares of the company’s stock, valued at $3,180,202.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Constellation Brands news, EVP Robert Lee Hanson sold 12,299 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $268.10, for a total value of $3,297,361.90. Following the completion of the sale, the executive vice president now owns 11,862 shares of the company’s stock, valued at $3,180,202.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 49,425 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the completion of the sale, the chief executive officer now directly owns 9,316 shares of the company’s stock, valued at approximately $2,495,756.40. The disclosure for this sale can be found here. Insiders sold a total of 100,819 shares of company stock worth $27,054,755 over the last three months. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Stock Down 0.1 %

STZ stock traded down $0.24 during trading on Tuesday, reaching $260.45. 53,142 shares of the company traded hands, compared to its average volume of 1,176,376. Constellation Brands, Inc. has a 12 month low of $208.12 and a 12 month high of $273.65. The business has a 50 day simple moving average of $262.87 and a 200 day simple moving average of $242.25. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.14 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, June 30th. The company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.08. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.47 billion. Constellation Brands had a negative net margin of 3.14% and a positive return on equity of 22.32%. Constellation Brands’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $2.66 earnings per share. Analysts forecast that Constellation Brands, Inc. will post 11.59 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.37%. Constellation Brands’s dividend payout ratio (DPR) is -194.54%.

Wall Street Analyst Weigh In

STZ has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a research note on Friday. Barclays dropped their target price on Constellation Brands from $277.00 to $275.00 in a research report on Wednesday, July 5th. Roth Mkm boosted their target price on shares of Constellation Brands from $270.00 to $284.00 and gave the company a “buy” rating in a research note on Monday, July 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellation Brands from $234.00 to $241.00 and gave the company a “hold” rating in a research note on Wednesday, July 19th. Finally, Truist Financial boosted their target price on shares of Constellation Brands from $220.00 to $240.00 and gave the company a “hold” rating in a research note on Monday, July 3rd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $270.05.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.