Constellation Brands Inc.’s filing revealed that its Director Hernandez Ernesto M unloaded Company’s shares for reported $1.37 million on Aug 04. In the deal valued at $269.00 per share,5,086 shares were sold. As a result of this transaction, Hernandez Ernesto M now holds 3,649 shares worth roughly $ 0.95 million.
Then, Bourdeau James O. sold 30,723 shares, generating $8,264,487 in total proceeds. Upon selling the shares at $269.00, the EVP & Chief Legal Officer now owns 5,500 shares.
Before that, MCCARTHY DANIEL J sold 1,736 shares. Constellation Brands Inc. shares valued at $468,479 were divested by the Director at a price of $269.86 per share. As a result of the transaction, MCCARTHY DANIEL J now holds 3,232 shares, worth roughly $0.84 million.
Morgan Stanley reiterated its Constellation Brands Inc. [STZ] rating to an Overweight in a research note published on Friday, July 24, 2023; the price target was $305. PT values the company’s stock at a premium of 14.92 to its Friday closing price.
Price Performance Review of STZ
On Friday, Constellation Brands Inc. [NYSE:STZ] saw its stock fall -0.41% to $259.48. On the same session, the stock had its day’s lowest price of $258.265, but rose to a high of $261.99. Constellation Brands Inc. shares have risen nearly 11.97% since the year began. Nevertheless, the stocks have risen 5.46% over the past one year. While a 52-week high of $273.65 was reached on 08/08/23, a 52-week low of $208.12 was recorded on 01/05/23. SMA at 50 days reached $260.42, while 200 days put it at $238.31. A total of 0.67 million shares were traded, compared to the trading of 0.8 million shares in the previous session.
Levels Of Support And Resistance For STZ Stock
The 24-hour chart illustrates a support level at 257.83, which if violated will result in even more drops to 256.19. On the upside, there is a resistance level at 261.56. A further resistance level may holdings at 263.64. The Relative Strength Index (RSI) on the 14-day chart is 44.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.22%. Stochastics %K at 36.05% indicates the stock is a holding.
How much short interest is there in Constellation Brands Inc.?
A steep rise in short interest was recorded in Constellation Brands Inc. stocks on Aug 14, 2023, dropping by -0.94 million shares to a total of 1.67 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.61 million shares. There was a decline of -56.29%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.65.
Constellation Brands Inc. [STZ] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 12,917,952 shares, or roughly 7.05% of the outstanding STZ shares. In other words, the investor’s shares have risen by 346,947 from its previous 13-F filing of 12571005.0. Additionally, Capital Research & Management Co increased 21.82% of its stake after which the total value it holdings stand at $2,156,006,054, while SSgA Funds Management, Inc. added 0.75% of its stake to hold $1.89 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 33,665 shares of Constellation Brands Inc., while T. Rowe Price Associates, Inc. bought -1,236,399 shares. At present, Capital Research & Management Co is holding 6,148,339 shares valued at $1.68 billion. Aristotle Capital Management LLC owned 3,467,670 shares of the company at the time of its most recent 13F filing, worth $945.98 million.
According to FactSet, Constellation Brands Inc.’s share price will average $286.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.3 percent from its previous closing price of $260.56. Analysts expect Constellation Brands Inc. stock to reach the higher price of $315.00, while the lowest price estimate is $240.00. However, 21 analysts have rated STZ stock as a Buy in their predictions for 2023.