Signature Estate & Investment Advisors LLC Makes New $2.13 Million Investment in Constellation Brands, Inc. (NYSE:STZ)

Signature Estate & Investment Advisors LLC bought a new stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 8,275 shares of the company's stock, valued at approximately $2,132,000.

A number of other large investors have also made changes to their positions in STZ. New Millennium Group LLC purchased a new position in Constellation Brands during the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the 2nd quarter valued at about $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth about $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Constellation Brands stock traded down $4.49 during midday trading on Friday, hitting $237.51. The company's stock had a trading volume of 1,425,616 shares, compared to its average volume of 1,203,183. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. 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 stock's 50-day moving average price is $244.36 and its 200-day moving average price is $248.25. The company has a market capitalization of $43.12 billion, a PE ratio of 77.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

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

Constellation Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on STZ shares. Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. 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. Bank of America restated a "neutral" rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and cut their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, UBS Group lowered their target price on shares of Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $290.47.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. 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 currently owned by corporate insiders.

Constellation Brands Company 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.