BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $7.05 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 13.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,357 shares of the company's stock after selling 4,151 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Constellation Brands were worth $7,050,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New Millennium Group LLC bought a new position in Constellation Brands in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the second quarter worth $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands in the second quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands in the second quarter valued at $36,000. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of analyst reports. Bank of America reaffirmed a "neutral" rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. BMO Capital Markets cut their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a report on Tuesday, October 15th. TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Finally, UBS Group reduced their price target on Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $289.16.

Insider Activity

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. This represents a 21.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares of the company's stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Trading Down 1.3 %

Shares of Constellation Brands stock traded down $3.20 on Monday, reaching $237.75. 1,243,095 shares of the company were exchanged, compared to its average volume of 1,206,925. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The firm has a market capitalization of $43.17 billion, a price-to-earnings ratio of 76.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The stock has a fifty day moving average price of $241.72 and a 200-day moving average price of $246.71.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.70 EPS. On average, analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Constellation Brands 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.