Oak Harvest Investment Services Sells 2,525 Shares of Constellation Brands, Inc. (NYSE:STZ)

Oak Harvest Investment Services lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.1% during the 1st quarter, Holdings Channel reports. The fund owned 15,436 shares of the company’s stock after selling 2,525 shares during the period. Oak Harvest Investment Services’ holdings in Constellation Brands were worth $4,195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WealthBridge Investment Counsel Inc. boosted its position in shares of Constellation Brands by 0.4% in the 1st quarter. WealthBridge Investment Counsel Inc. now owns 26,200 shares of the company’s stock worth $7,120,000 after purchasing an additional 105 shares in the last quarter. AMI Asset Management Corp boosted its position in shares of Constellation Brands by 3.2% in the 1st quarter. AMI Asset Management Corp now owns 174,856 shares of the company’s stock worth $47,519,000 after purchasing an additional 5,389 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Constellation Brands by 25.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,804 shares of the company’s stock worth $762,000 after purchasing an additional 574 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Constellation Brands in the 1st quarter worth $924,000. Finally, Valeo Financial Advisors LLC raised its stake in Constellation Brands by 4.4% in the 1st quarter. Valeo Financial Advisors LLC now owns 16,534 shares of the company’s stock worth $4,493,000 after acquiring an additional 703 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on STZ shares. HSBC raised their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Barclays reduced their price objective on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Truist Financial reiterated a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group lifted their price objective on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $298.63.

Constellation Brands Price Performance

STZ stock traded down $8.57 during trading on Thursday, hitting $250.37. The stock had a trading volume of 2,670,323 shares, compared to its average volume of 1,100,250. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The stock has a market capitalization of $45.81 billion, a P/E ratio of 26.69, a PEG ratio of 1.72 and a beta of 0.87. The company’s 50-day moving average price is $254.99 and its two-hundred day moving average price is $254.00.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.91 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio is currently 43.07%.

Insider Transactions at Constellation Brands

In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 in the last ninety days. Insiders own 12.19% of the company’s stock.

Constellation Brands 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.