Coastline Trust Co Has $863,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Coastline Trust Co lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 50.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,350 shares of the company's stock after selling 3,390 shares during the quarter. Coastline Trust Co's holdings in Constellation Brands were worth $863,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Northcape Wealth Management LLC boosted its stake in shares of Constellation Brands by 1.3% during the 3rd quarter. Northcape Wealth Management LLC now owns 9,921 shares of the company's stock worth $2,557,000 after acquiring an additional 123 shares in the last quarter. First Long Island Investors LLC lifted its holdings in Constellation Brands by 5.5% in the 3rd quarter. First Long Island Investors LLC now owns 46,810 shares of the company's stock worth $12,062,000 after purchasing an additional 2,445 shares during the last quarter. KCM Investment Advisors LLC boosted its position in Constellation Brands by 1.7% during the third quarter. KCM Investment Advisors LLC now owns 3,382 shares of the company's stock worth $872,000 after purchasing an additional 56 shares during the period. Empowered Funds LLC grew its holdings in Constellation Brands by 318.8% during the third quarter. Empowered Funds LLC now owns 10,184 shares of the company's stock valued at $2,624,000 after purchasing an additional 7,752 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Constellation Brands by 14.8% in the third quarter. Empirical Finance LLC now owns 2,848 shares of the company's stock valued at $734,000 after purchasing an additional 368 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Constellation Brands stock traded down $4.49 on Friday, hitting $237.51. The company's stock had a trading volume of 1,426,660 shares, compared to its average volume of 1,203,183. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The firm has a market cap of $43.12 billion, a P/E ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $244.13 and a 200-day moving average price of $248.09.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts' consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 earnings per share. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's dividend payout ratio is 130.74%.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,296 shares of company stock valued at $45,899,031 in the last 90 days. 12.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a report on Friday, October 4th. Truist Financial decreased their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a report on Friday, October 4th. UBS Group lowered their price target on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a research report on Monday, September 9th. Royal Bank of Canada reissued an "outperform" rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Barclays decreased their target price on Constellation Brands from $309.00 to $300.00 and set an "overweight" rating for the company in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $290.47.

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.