Constellation Brands, Inc. (NYSE:STZ) Stake Reduced by Scholtz & Company LLC

Scholtz & Company LLC cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,688 shares of the company’s stock after selling 55 shares during the period. Scholtz & Company LLC’s holdings in Constellation Brands were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. New Millennium Group LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands in the 1st quarter worth approximately $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands in the 4th quarter valued at approximately $35,000. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by company insiders.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $251.71 on Friday. The business’s 50-day simple moving average is $246.04 and its 200-day simple moving average is $253.77. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market cap of $45.87 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.69 and a beta of 0.88.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.91 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on STZ. Truist Financial reiterated a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. UBS Group decreased 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. BMO Capital Markets restated an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Jefferies Financial Group increased their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Finally, Barclays boosted their target price on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $296.78.

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.