Atlantic Union Bankshares Corp Cuts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Atlantic Union Bankshares Corp decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,718 shares of the company’s stock after selling 1,750 shares during the period. Atlantic Union Bankshares Corp’s holdings in Constellation Brands were worth $2,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at $119,394,000. Empowered Funds LLC grew its stake in Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after buying an additional 7,752 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Constellation Brands during the 3rd quarter valued at about $2,132,000. WealthPlan Investment Management LLC raised its stake in Constellation Brands by 29.5% in the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after buying an additional 6,867 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Constellation Brands in the first quarter worth about $561,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

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

Constellation Brands Price Performance

Shares of NYSE STZ opened at $240.85 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $241.72 and its 200-day simple moving average is $246.80. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The stock has a market capitalization of $43.73 billion, a price-to-earnings ratio of 77.94, a PEG ratio of 1.67 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released 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. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company earned $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, November 19th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Evercore ISI lowered their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $289.16.

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.