Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Constellation Brands Inc shares valued at $6,538,563 were sold by Newlands William A on May 10 ’24. At $261.54 per share, Newlands William A sold 25,000 shares. The insider’s holdings dropped to 14,700 shares worth approximately $3.66 million following the completion of this transaction.
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Also, McGrew Michael sold 3,237 shares, netting a total of over 827,043 in proceeds. Following the sale of shares at $255.50 each, the insider now holds 1,731 shares.
Before that, Newlands William A had sold 4,013 shares from its account. In a trade valued at $1,056,415, the President & CEO traded Constellation Brands Inc shares for $263.25 each. Upon closing the transaction, the insider’s holdings decreased to 4,013 shares, worth approximately $1.34 million.
As published in a research note from Argus on April 15, 2024, Constellation Brands Inc [STZ] has been rated up from a Hold to a Buy and the price target has been revised to $306. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in late March. As of January 10, 2024, Argus has decreased its “Buy” rating to a “Hold” for STZ. Earlier on November 13, 2023, Jefferies initiated its rating. Their recommendation was “a Buy” for STZ stock.
Analyzing STZ Stock Performance
During the last five days, there has been a drop of approximately -1.33%. Over the course of the year, Constellation Brands Inc shares have jumped approximately 2.97%. Shares of the company reached a 52-week high of $274.87 on 04/11/24 and a 52-week low of $240.49 on 01/02/24. A 50-day SMA is recorded $261.43, while a 200-day SMA reached $250.79. Nevertheless, trading volume fell to 0.8 million shares from 0.84 million shares the previous day.
Support And Resistance Levels for Constellation Brands Inc (STZ)
According to the 24-hour chart, there is a support level at 247.97, which, if violated, would cause prices to drop to 247.00. In the upper region, resistance lies at 250.34. The next price resistance is at 251.74. RSI (Relative Strength Index) is 35.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.50, which suggests the price will decrease in the coming days. Percent R is at 96.38%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
