Janney Montgomery Scott LLC Purchases 2,182 Shares of Constellation Brands, Inc. (NYSE:STZ)

Janney Montgomery Scott LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,097 shares of the company’s stock after purchasing an additional 2,182 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Constellation Brands worth $34,813,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in shares of Constellation Brands in the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands in the second quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands in the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Constellation Brands during the 2nd quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. Truist Financial dropped their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Bank of America reaffirmed a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. BMO Capital Markets dropped their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Barclays reduced their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $232.77 on Monday. Constellation Brands, Inc. has a 52 week low of $231.70 and a 52 week high of $274.87. 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 has a 50 day moving average price of $245.43 and a 200-day moving average price of $249.59. The company has a market cap of $42.26 billion, a PE ratio of 75.33, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90.

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

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.74%. Constellation Brands’s dividend payout ratio is currently 130.74%.

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.