Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Morton Community Bank

Morton Community Bank grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,310 shares of the company’s stock after buying an additional 858 shares during the period. Morton Community Bank’s holdings in Constellation Brands were worth $3,167,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STZ. International Assets Investment Management LLC boosted its holdings in shares of Constellation Brands by 3.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,345 shares of the company’s stock valued at $567,000 after buying an additional 79 shares in the last quarter. Lincoln National Corp grew its stake in Constellation Brands by 9.2% during the 4th quarter. Lincoln National Corp now owns 2,802 shares of the company’s stock worth $678,000 after buying an additional 237 shares during the last quarter. Apollon Wealth Management LLC increased its position in Constellation Brands by 68.5% during the fourth quarter. Apollon Wealth Management LLC now owns 3,150 shares of the company’s stock worth $762,000 after buying an additional 1,281 shares during the period. Principal Securities Inc. purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $414,000. Finally, Calton & Associates Inc. acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock traded up $0.72 during mid-day trading on Friday, reaching $249.01. The company had a trading volume of 1,171,782 shares, compared to its average volume of 1,176,895. The stock’s 50-day simple moving average is $246.35 and its 200-day simple moving average is $253.71. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. 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 company has a market capitalization of $45.56 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.59 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued 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 firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.91 earnings per share. On average, equities analysts predict that Constellation Brands, Inc. will post 13.54 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s payout ratio is currently 30.10%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial restated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. Jefferies Financial Group boosted their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Morgan Stanley dropped their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Barclays upped their price target on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $298.17.

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.