Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,098 shares of the company’s stock after selling 92 shares during the quarter. Linscomb Wealth Inc.’s holdings in Constellation Brands were worth $3,118,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New Millennium Group LLC purchased a new stake in Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the second quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands in the 2nd quarter valued at $32,000. LRI Investments LLC purchased a new position in Constellation Brands in the 1st quarter worth $37,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 7,426 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,210 shares of company stock worth $31,040,994 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 1.4 %

NYSE STZ traded down $3.42 during trading on Friday, hitting $238.58. The stock had a trading volume of 232,097 shares, compared to its average volume of 1,197,555. The company has a market capitalization of $43.32 billion, a PE ratio of 77.63, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average price of $244.36 and a 200 day moving average price of $248.25.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates 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 was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $3.70 earnings per share. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI reduced their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note 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 research note on Friday, October 4th. Truist Financial cut their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Finally, UBS Group cut 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. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.