Trust Co. of Vermont Sells 111 Shares of Constellation Brands Inc $STZ

Trust Co. of Vermont reduced its stake in Constellation Brands Inc (NYSE:STZ) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,952 shares of the company’s stock after selling 111 shares during the quarter. Trust Co. of Vermont’s holdings in Constellation Brands were worth $1,294,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in Constellation Brands in the 1st quarter valued at $32,000. Rakuten Securities Inc. lifted its position in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Constellation Brands in the 1st quarter valued at $38,000. Flaharty Asset Management LLC bought a new stake in Constellation Brands in the 1st quarter valued at $39,000. Finally, Hoey Investments Inc. bought a new stake in Constellation Brands in the 2nd quarter valued at $40,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Up 3.2%

Shares of STZ opened at $138.95 on Thursday. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $257.36. The firm has a market cap of $24.50 billion, a P/E ratio of -58.14, a price-to-earnings-growth ratio of 0.40 and a beta of 0.67. The firm’s 50-day simple moving average is $155.10 and its 200 day simple moving average is $170.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the company posted $3.57 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be paid a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio is -170.71%.

Analyst Upgrades and Downgrades

STZ has been the topic of several recent research reports. UBS Group lifted their price target on shares of Constellation Brands from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Raymond James Financial upgraded shares of Constellation Brands to a “strong-buy” rating in a research note on Monday, July 7th. Barclays reiterated an “equal weight” rating and issued a $150.00 price target (down from $202.00) on shares of Constellation Brands in a research note on Friday, September 12th. Piper Sandler lifted their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, June 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $191.28.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.45% of the company’s stock.

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.