SouthState Corp Purchases 1,644 Shares of Constellation Brands, Inc. (NYSE:STZ)

SouthState Corp increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 33,275 shares of the company’s stock after buying an additional 1,644 shares during the period. SouthState Corp’s holdings in Constellation Brands were worth $8,575,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. New Millennium Group LLC bought a new position in shares of Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the second quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $36,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $238.06 on Tuesday. The company’s 50 day moving average price is $243.88 and its two-hundred day moving average price is $247.90. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The stock has a market cap of $43.22 billion, a P/E ratio of 77.04, a P/E/G ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the company posted $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed 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. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Analyst Ratings Changes

STZ has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. BMO Capital Markets cut their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Finally, Bank of America restated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $290.47.

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.