Van ECK Associates Corp Sells 3,104 Shares of Constellation Brands, Inc. (NYSE:STZ)

Van ECK Associates Corp reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,107 shares of the company’s stock after selling 3,104 shares during the period. Van ECK Associates Corp’s holdings in Constellation Brands were worth $15,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STZ. Capital Advisors Ltd. LLC grew its position in shares of Constellation Brands by 16.5% in the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares during the last quarter. Burns Matteson Capital Management LLC increased its position in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after buying an additional 42 shares during the period. 1620 Investment Advisors Inc. lifted its holdings in shares of Constellation Brands by 1.8% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after buying an additional 42 shares during the last quarter. FAS Wealth Partners Inc. boosted its position in shares of Constellation Brands by 3.5% in the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after acquiring an additional 43 shares during the period. Finally, Smithfield Trust Co grew its stake in shares of Constellation Brands by 5.3% in the fourth quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after acquiring an additional 43 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $7.16 during midday trading on Friday, reaching $257.53. The company’s stock had a trading volume of 1,174,940 shares, compared to its average volume of 1,204,786. The business’s fifty day simple moving average is $254.77 and its 200-day simple moving average is $253.97. 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 fifty-two week low of $227.50 and a fifty-two week high of $274.87. The company has a market capitalization of $47.12 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.66 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm earned $2.91 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders 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 yield of 1.57%. Constellation Brands’s dividend payout ratio is 43.07%.

Analysts Set New Price Targets

Several equities analysts recently commented on STZ shares. Jefferies Financial Group upped their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler initiated coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research note on Wednesday, April 10th. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.11.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 4,013 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,031 shares of company stock worth $12,582,321. Insiders own 12.19% of the company’s stock.

About Constellation Brands

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.