Oak Harvest Investment Services Sells 1,913 Shares of Constellation Brands, Inc. (NYSE:STZ)

Oak Harvest Investment Services cut its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.0% during the 3rd quarter, Holdings Channel reports. The firm owned 11,703 shares of the company’s stock after selling 1,913 shares during the quarter. Oak Harvest Investment Services’ holdings in Constellation Brands were worth $3,016,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands in the second quarter worth about $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands in the second quarter valued at about $36,000. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STZ. Barclays lowered their price target 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. UBS Group dropped 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. Evercore ISI decreased their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, Jefferies Financial Group increased their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Four equities research 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.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated 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 directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,367 shares of company stock worth $32,539,170. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Constellation Brands stock opened at $235.48 on Thursday. Constellation Brands, Inc. has a fifty-two week low of $232.61 and a fifty-two week 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. The stock has a market cap of $43.09 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The firm’s fifty day moving average price is $245.91 and its 200-day moving average price is $250.00.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data 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 company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $3.70 EPS. On average, equities research analysts expect 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. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.72%. Constellation Brands’s payout ratio is 30.10%.

Constellation Brands 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.