US Bancorp DE Sells 4,286 Shares of Constellation Brands, Inc. (NYSE:STZ)

US Bancorp DE lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,149 shares of the company’s stock after selling 4,286 shares during the quarter. US Bancorp DE’s holdings in Constellation Brands were worth $19,623,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in STZ. Capital International Investors increased its holdings in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors increased its holdings in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Constellation Brands in the second quarter worth $119,394,000. Finally, Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value 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 $1,725,683.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 of the company’s stock, valued at $104,638,157.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of the 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. 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 valued at $34,300,914 over the last three months. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STZ. Barclays decreased their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Jefferies Financial Group upped their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. UBS Group cut their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Truist Financial cut 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 report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

Constellation Brands stock opened at $232.77 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average of $245.43 and a 200-day moving average of $249.70. The firm has a market cap of $42.26 billion, a P/E ratio of 75.33, a P/E/G ratio of 1.66 and a beta of 0.88. Constellation Brands, Inc. has a 1-year low of $231.70 and a 1-year high of $274.87.

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

Constellation Brands Announces Dividend

The business 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. This represents a $4.04 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is currently 130.74%.

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.