Investors Buy Large Volume of Constellation Brands Put Options (STZ)
Constellation Brands, Inc. (NYSE:STZ) was the recipient of unusually large options trading on Monday. Stock traders acquired 36,194 put options on the company. This represents an increase of approximately 1,585% compared to the typical volume of 2,148 put options.
STZ has been the subject of a number of analyst reports. Susquehanna Bancshares decreased their price target on Constellation Brands from $171.00 to $165.00 and set a “negative” rating for the company in a report on Monday, October 1st. Bank of America increased their target price on Constellation Brands from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Morgan Stanley reduced their target price on Constellation Brands from $258.00 to $251.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Wells Fargo & Co increased their target price on Constellation Brands from $270.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, October 5th. Finally, Evercore ISI set a $255.00 target price on Constellation Brands and gave the company a “buy” rating in a research note on Friday, September 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $246.96.
STZ stock opened at $190.72 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80. The company has a market cap of $37.24 billion, a P/E ratio of 21.87, a PEG ratio of 1.90 and a beta of 0.08. Constellation Brands has a 12-month low of $187.87 and a 12-month high of $236.62.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, November 5th. Constellation Brands’s dividend payout ratio is currently 10.67%.
In other Constellation Brands news, Chairman Richard Sands sold 148,773 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $223.69, for a total value of $33,279,032.37. Following the completion of the transaction, the chairman now owns 346,525 shares in the company, valued at approximately $77,514,177.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas Michael Kane sold 4,419 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The stock was sold at an average price of $223.83, for a total value of $989,104.77. Following the completion of the transaction, the vice president now owns 8,499 shares of the company’s stock, valued at approximately $1,902,331.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 578,723 shares of company stock valued at $129,438,449. 15.80% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of STZ. Sun Life Financial INC raised its position in shares of Constellation Brands by 155.3% during the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock valued at $100,000 after acquiring an additional 278 shares in the last quarter. Atlantic Trust LLC acquired a new stake in Constellation Brands in the second quarter worth $114,000. Benjamin F. Edwards & Company Inc. increased its position in Constellation Brands by 227.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock worth $115,000 after buying an additional 366 shares during the period. TLP Group LLC acquired a new stake in Constellation Brands in the third quarter worth $136,000. Finally, Truvestments Capital LLC acquired a new stake in Constellation Brands in the third quarter worth $137,000. 72.26% of the stock is currently owned by institutional investors and hedge funds.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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