Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. trimmed its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 10.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,760 shares of the company's stock after selling 11,160 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Constellation Brands were worth $23,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC purchased a new position in Constellation Brands in the second quarter valued at approximately $25,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the 2nd quarter valued at $32,000. Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands during the 2nd quarter worth $36,000. Wellington Shields & Co. LLC boosted its position in Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company's stock worth $39,000 after purchasing an additional 50 shares during the period. Finally, Eastern Bank acquired a new stake in Constellation Brands in the 3rd quarter valued at $39,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert Sands sold 119,274 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. Insiders own 12.19% of the company's stock.

Constellation Brands Stock Performance

Constellation Brands stock traded down $0.44 during mid-day trading on Thursday, reaching $239.45. The company's stock had a trading volume of 1,214,682 shares, compared to its average volume of 1,209,848. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The business has a 50 day moving average price of $239.22 and a 200-day moving average price of $246.12. The firm has a market cap of $43.48 billion, a price-to-earnings ratio of 77.62, a PEG ratio of 1.69 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, November 5th. Constellation Brands's payout ratio is 130.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on STZ shares. Roth Mkm reaffirmed a "buy" rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. UBS Group lowered their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Royal Bank of Canada reissued an "outperform" rating and set a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, November 19th. TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and decreased their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Finally, Truist Financial dropped their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $288.70.

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.