Constellation Brands, Inc. (NYSE:STZ) Short Interest Down 17.7% in November

Constellation Brands, Inc. (NYSE:STZ) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,830,000 shares, a decline of 17.7% from the November 15th total of 3,440,000 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 1,280,000 shares, the short-interest ratio is presently 2.2 days.

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

Several large investors have recently bought and sold shares of the business. Paloma Partners Management Co increased its holdings in shares of Constellation Brands by 568.4% during the third quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after buying an additional 25,512 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Constellation Brands by 318.8% during the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after acquiring an additional 7,752 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Constellation Brands in the third quarter valued at $2,132,000. WealthPlan Investment Management LLC lifted its stake in shares of Constellation Brands by 29.5% in the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after acquiring an additional 6,867 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Constellation Brands by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after buying an additional 2,980 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE STZ traded down $5.86 during mid-day trading on Monday, reaching $233.80. The company had a trading volume of 731,412 shares, compared to its average volume of 1,207,197. Constellation Brands has a one year low of $224.76 and a one year high of $274.87. The business’s 50-day simple moving average is $238.99 and its 200 day simple moving average is $246.03. 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 firm has a market cap of $42.45 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.69 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.73%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Truist Financial cut 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 report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective 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. Roth Mkm reiterated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Finally, BMO Capital Markets decreased their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $288.70.

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.