Constellation Brands, Inc. (NYSE:STZ) Short Interest Down 33.7% in August

Constellation Brands, Inc. (NYSE:STZ) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 2,380,000 shares, a drop of 33.7% from the August 15th total of 3,590,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.6% of the shares of the stock are short sold.

Constellation Brands Stock Up 0.4 %

Constellation Brands stock traded up $0.96 during mid-day trading on Monday, reaching $253.53. 875,955 shares of the company were exchanged, compared to its average volume of 1,174,184. Constellation Brands has a 12-month low of $227.50 and a 12-month high of $274.87. The business has a fifty day moving average of $245.91 and a 200 day moving average of $253.90. The firm has a market cap of $46.39 billion, a P/E ratio of 18.89, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

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

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s payout ratio is currently 30.10%.

Insider Buying and Selling at Constellation Brands

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in 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 last quarter. Capital International Investors grew its stake in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors increased its holdings in shares of Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares in the last quarter. Capital Research Global Investors increased its stake in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after purchasing an additional 222,380 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Constellation Brands in the 4th quarter valued at $443,844,000. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on STZ. Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Truist Financial reaffirmed a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 3rd. Finally, UBS Group cut their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $296.78.

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.