Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 43.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,725 shares of the company's stock after selling 2,905 shares during the period. Vinva Investment Management Ltd's holdings in Constellation Brands were worth $963,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of STZ stock traded up $4.98 during mid-day trading on Friday, hitting $240.95. 833,709 shares of the stock were exchanged, compared to its average volume of 1,206,769. The stock's fifty day simple moving average is $241.72 and its two-hundred day simple moving average is $246.80. The stock has a market capitalization of $43.75 billion, a price-to-earnings ratio of 77.98, a P/E/G ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

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

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands's dividend payout ratio is currently 130.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on STZ shares. Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. TD Cowen cut Constellation Brands from a "buy" rating to a "hold" rating and reduced their price objective for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Truist Financial reduced their price objective on Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, October 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating on the stock in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $289.16.

Insider Buying and Selling

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company's stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last quarter. 12.19% of the stock is currently owned by insiders.

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.