Greystone Financial Group LLC Has $633,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Greystone Financial Group LLC reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,455 shares of the company’s stock after selling 376 shares during the quarter. Greystone Financial Group LLC’s holdings in Constellation Brands were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. New Millennium Group LLC bought a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands in the 2nd quarter valued at $32,000. First Financial Corp IN acquired a new position in Constellation Brands in the 1st quarter valued at $35,000. Finally, LRI Investments LLC acquired a new position in Constellation Brands in the 1st quarter valued at $37,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Performance

Shares of STZ stock opened at $241.42 on Thursday. 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, Inc. has a fifty-two week low of $227.64 and a fifty-two week high of $274.87. The stock has a 50 day moving average price of $246.56 and a two-hundred day moving average price of $250.95. The company has a market capitalization of $44.17 billion, a P/E ratio of 17.99, a PEG ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating 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 return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 earnings per share. Analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.67%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the transaction, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,221 shares of company stock valued at $33,007,175 over the last ninety days. Insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. lowered their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Finally, UBS Group lowered their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

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.