Constellation Brands, Inc. (NYSE:STZ) Short Interest Down 15.3% in January

Constellation Brands, Inc. (NYSE:STZ) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 2,610,000 shares, a decrease of 15.3% from the December 31st total of 3,080,000 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average trading volume of 1,830,000 shares, the days-to-cover ratio is presently 1.4 days.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded down $3.45 during trading on Friday, hitting $180.87. The stock had a trading volume of 2,190,444 shares, compared to its average volume of 2,637,785. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 48.62, a P/E/G ratio of 1.60 and a beta of 0.91. Constellation Brands has a 12 month low of $176.51 and a 12 month high of $274.87. The business’s 50-day moving average is $215.42 and its 200 day moving average is $233.96. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. As a group, sell-side analysts anticipate that Constellation Brands will post 13.52 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.23%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Analysts Set New Price Targets

STZ has been the subject of several analyst reports. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Truist Financial cut their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Roth Mkm reiterated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.14.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 61,746 shares of company stock worth $15,017,097. 12.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Constellation Brands

Institutional investors have recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands in the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands during the fourth quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of Constellation Brands in the 3rd quarter worth approximately $39,000. Versant Capital Management Inc boosted its stake in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Constellation Brands in the 3rd quarter valued at $42,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

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.