Insider Selling: Constellation Brands, Inc. (STZ) EVP Sells 25,980 Shares of Stock
Constellation Brands, Inc. (NYSE:STZ) EVP David Eric Klein sold 25,980 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $198.66, for a total value of $5,161,186.80. Following the transaction, the executive vice president now directly owns 69,852 shares in the company, valued at $13,876,798.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE STZ opened at $207.48 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $37.75 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 2.72 and a beta of 0.45. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $236.62.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.12. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. Constellation Brands’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. As a group, analysts anticipate that Constellation Brands, Inc. will post 8.51 EPS for the current fiscal year.
A number of research analysts have recently issued reports on STZ shares. Argus reduced their price objective on Constellation Brands from $260.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 11th. Pivotal Research reaffirmed a “buy” rating and set a $265.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Wednesday, January 9th. Goldman Sachs Group raised Constellation Brands from a “neutral” rating to a “buy” rating and set a $211.00 price objective on the stock in a research note on Thursday, January 10th. HSBC raised Constellation Brands from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $258.00 price objective on shares of Constellation Brands in a research note on Wednesday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $223.13.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position in Constellation Brands by 210.9% during the 1st quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock valued at $25,000 after acquiring an additional 97 shares in the last quarter. Truewealth LLC boosted its position in Constellation Brands by 467.9% during the 4th quarter. Truewealth LLC now owns 159 shares of the company’s stock valued at $26,000 after acquiring an additional 131 shares in the last quarter. City Holding Co. bought a new stake in Constellation Brands during the 4th quarter valued at approximately $31,000. Ledyard National Bank bought a new stake in Constellation Brands during the 4th quarter valued at approximately $31,000. Finally, We Are One Seven LLC bought a new stake in Constellation Brands during the 4th quarter valued at approximately $32,000. 73.17% of the stock is currently owned by institutional investors.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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