Constellation Brands, Inc. (NYSE:STZ) Holdings Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 4.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,882 shares of the company's stock after selling 4,038 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Constellation Brands were worth $22,131,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its position in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock worth $128,765,000 after acquiring an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Constellation Brands in the second quarter valued at $119,394,000. Dimensional Fund Advisors LP increased its position in shares of Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock valued at $257,865,000 after buying an additional 241,982 shares in the last quarter. Coho Partners Ltd. increased its position in Constellation Brands by 40.1% during the 3rd quarter. Coho Partners Ltd. now owns 283,079 shares of the company's stock worth $72,947,000 after purchasing an additional 80,970 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in Constellation Brands during the 2nd quarter worth about $19,134,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BNP Paribas assumed coverage on Constellation Brands in a research report on Monday, November 25th. They set a "neutral" rating and a $261.00 price objective for the company. Truist Financial decreased their price target on Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company decreased their price target on Constellation Brands from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 26th. Evercore ISI decreased their price target on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Finally, UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a research note on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $289.16.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company's stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company's stock.

Constellation Brands Stock Performance

STZ traded up $1.16 on Wednesday, hitting $238.22. 898,359 shares of the company's stock were exchanged, compared to its average volume of 1,205,462. The firm has a market cap of $43.25 billion, a PE ratio of 77.09, a P/E/G ratio of 1.68 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The stock has a fifty day moving average of $240.80 and a two-hundred day moving average of $246.40. 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 (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. Constellation Brands's quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

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.