Callahan Advisors LLC Sells 46 Shares of Constellation Brands, Inc. (NYSE:STZ)

Callahan Advisors LLC cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 5.4% in the third quarter, HoldingsChannel reports. The fund owned 810 shares of the company’s stock after selling 46 shares during the period. Callahan Advisors LLC’s holdings in Constellation Brands were worth $209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. New Millennium Group LLC bought a new stake in shares of Constellation Brands during the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands during the second quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands in the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands in the second quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial lowered their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Barclays lowered their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,793 shares of company stock worth $34,300,914 over the last quarter. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $236.99 on Wednesday. Constellation Brands, Inc. has a 12 month low of $231.70 and a 12 month high of $274.87. The firm has a fifty day simple moving average of $245.30 and a 200 day simple moving average of $249.29. The stock has a market capitalization of $43.03 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 1.64 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

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

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders 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 is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

About Constellation Brands

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.