Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Old North State Trust LLC

Posted by Defense World Staff on Sep 17th, 2023

Old North State Trust LLC boosted its position in Constellation Brands, Inc. (NYSE:STZ – Free Report) by 500.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Old North State Trust LLC’s holdings in Constellation Brands were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of STZ. Prudential PLC acquired a new position in shares of Constellation Brands during the 1st quarter valued at about $705,000. Cetera Investment Advisers increased its stake in shares of Constellation Brands by 1.0% during the 1st quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock valued at $3,921,000 after acquiring an additional 163 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Constellation Brands by 17.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock valued at $725,000 after acquiring an additional 471 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after acquiring an additional 313,344 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Constellation Brands during the 1st quarter valued at about $257,000. Institutional investors and hedge funds own 88.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STZ. Roth Mkm upped their price objective on shares of Constellation Brands from $270.00 to $284.00 and gave the company a “buy” rating in a research note on Monday, July 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $295.00 target price on shares of Constellation Brands in a research report on Friday. StockNews.com initiated coverage on shares of Constellation Brands in a research report on Thursday, August 17th. They set a “hold” rating for the company. Barclays dropped their target price on shares of Constellation Brands from $277.00 to $275.00 in a research report on Wednesday, July 5th. Finally, Evercore ISI increased their target price on shares of Constellation Brands from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $270.05.

Check Out Our Latest Analysis on Constellation Brands

Constellation Brands Stock Performance

Shares of STZ opened at $260.34 on Friday. The business’s fifty day moving average price is $262.87 and its 200 day moving average price is $242.09. Constellation Brands, Inc. has a 12-month low of $208.12 and a 12-month high of $273.65. The stock has a market capitalization of $47.73 billion, a PE ratio of -142.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.14 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ – Get Free Report) last announced its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.08. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business posted $2.66 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 11.59 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.37%. The ex-dividend date was Wednesday, August 9th. Constellation Brands’s dividend payout ratio (DPR) is presently -194.54%.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 49,425 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the sale, the chief executive officer now directly owns 9,316 shares of the company’s stock, valued at $2,495,756.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Constellation Brands news, CEO William A. Newlands sold 49,425 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the sale, the chief executive officer now directly owns 9,316 shares of the company’s stock, valued at $2,495,756.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Garth Hankinson sold 1,550 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $267.96, for a total value of $415,338.00. Following the completion of the sale, the chief financial officer now directly owns 9,491 shares in the company, valued at $2,543,208.36. The disclosure for this sale can be found here. Insiders have sold 100,819 shares of company stock worth $27,054,755 over the last ninety days. 16.19% of the stock is owned by insiders.

About Constellation Brands

(Free Report)

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.