Hancock Whitney Corp Sells 1,335 Shares of Constellation Brands, Inc. (NYSE:STZ)

Hancock Whitney Corp lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 51.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,244 shares of the company’s stock after selling 1,335 shares during the quarter. Hancock Whitney Corp’s holdings in Constellation Brands were worth $321,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. 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. bought a new position in shares of Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands during the second quarter worth $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STZ shares. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Bank of America restated a “neutral” rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. UBS Group decreased their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Evercore ISI cut their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, BMO Capital Markets reduced their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

Constellation Brands Stock Performance

NYSE STZ opened at $235.97 on Thursday. The firm has a market cap of $42.84 billion, a P/E ratio of 76.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. 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 company’s 50 day moving average is $242.12 and its 200-day moving average is $247.00. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

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

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.71%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last quarter. 12.19% of the stock is currently owned by corporate 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.