OLD National Bancorp IN Buys 1,506 Shares of Constellation Brands, Inc. (NYSE:STZ)

OLD National Bancorp IN raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,701 shares of the company’s stock after purchasing an additional 1,506 shares during the period. OLD National Bancorp IN’s holdings in Constellation Brands were worth $13,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC increased its holdings in Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after acquiring an additional 39 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Constellation Brands by 16.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after acquiring an additional 41 shares during the period. 1620 Investment Advisors Inc. increased its holdings in Constellation Brands by 1.8% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after acquiring an additional 42 shares during the period. Smithfield Trust Co increased its holdings in shares of Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after buying an additional 43 shares during the last quarter. Finally, Copperwynd Financial LLC increased its holdings in shares of Constellation Brands by 1.6% in the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock worth $672,000 after buying an additional 43 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Insider Transactions at Constellation Brands

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 0.6 %

STZ traded up $1.54 during trading on Friday, hitting $241.41. 889,480 shares of the stock traded hands, compared to its average volume of 1,202,049. The firm has a market capitalization of $44.17 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a 50-day moving average of $251.70 and a 200 day moving average of $254.18. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.91 EPS. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.67%. Constellation Brands’s payout ratio is currently 30.10%.

Analyst Ratings Changes

A number of brokerages have recently commented on STZ. HSBC increased their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Truist Financial reissued a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Jefferies Financial Group increased their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Finally, Roth Mkm decreased their price target on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.28.

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.