Burns Matteson Capital Management LLC Sells 82 Shares of Constellation Brands, Inc. (NYSE:STZ)

Burns Matteson Capital Management LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,828 shares of the company’s stock after selling 82 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Constellation Brands were worth $729,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands during the 2nd quarter worth approximately $32,000. First Financial Corp IN bought a new stake in Constellation Brands during the 1st quarter worth approximately $35,000. Finally, LRI Investments LLC bought a new stake in shares of Constellation Brands in the 1st quarter valued at $37,000. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Truist Financial reduced their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Bank of America reiterated a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Evercore ISI dropped their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $291.06.

Constellation Brands Stock Up 0.6 %

STZ traded up $1.46 during trading on Friday, hitting $241.06. 1,108,158 shares of the company’s stock were exchanged, compared to its average volume of 1,188,298. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average is $246.10 and its two-hundred day moving average is $252.53. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The stock has a market cap of $44.11 billion, a P/E ratio of 17.96, a PEG ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate 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 for the quarter 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. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s 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 sale, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was 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 owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.19% of the stock is owned by company insiders.

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.