Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,854 shares of the company's stock after selling 2,535 shares during the quarter. Victory Capital Management Inc.'s holdings in Constellation Brands were worth $15,681,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of STZ. New Millennium Group LLC acquired a new position in Constellation Brands in the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in Constellation Brands during the second quarter worth $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands during the second quarter worth $36,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

NYSE:STZ traded down $0.72 during mid-day trading on Wednesday, reaching $239.72. The company's stock had a trading volume of 1,046,078 shares, compared to its average volume of 1,200,935. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The firm's fifty day moving average price is $243.70 and its two-hundred day moving average price is $247.79. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market cap of $43.52 billion, a P/E ratio of 77.58, a PEG ratio of 1.68 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last released 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 firm 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 business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.70 EPS. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS 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. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands's payout ratio is 130.74%.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the sale, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at $1,771,800.92. This represents a 77.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Sands sold 119,274 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,296 shares of company stock worth $45,899,031 in the last three months. 12.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

STZ has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. Roth Mkm reaffirmed a "buy" rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Barclays decreased their target price on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a report on Monday, October 7th. Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Finally, Truist Financial reduced 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. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently 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.