Connor Clark & Lunn Investment Management Ltd. Has $12.26 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 30.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,575 shares of the company's stock after selling 20,967 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Constellation Brands were worth $12,260,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NS Partners Ltd lifted its holdings in Constellation Brands by 2.2% in the 3rd quarter. NS Partners Ltd now owns 28,649 shares of the company's stock worth $7,383,000 after purchasing an additional 611 shares during the last quarter. Commerce Bank grew its stake in Constellation Brands by 2.3% in the 3rd quarter. Commerce Bank now owns 165,450 shares of the company's stock valued at $42,635,000 after buying an additional 3,665 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in Constellation Brands by 7.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 52,021 shares of the company's stock worth $13,405,000 after acquiring an additional 3,486 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Constellation Brands during the 3rd quarter worth $815,000. Finally, Banque Cantonale Vaudoise lifted its position in Constellation Brands by 274.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 18,259 shares of the company's stock worth $4,705,000 after acquiring an additional 13,379 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Analysts Set New Price Targets

STZ has been the subject of several research reports. UBS Group reduced their price objective 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. Royal Bank of Canada reiterated an "outperform" rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. Roth Mkm reiterated a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a report on Friday, October 4th. Finally, BMO Capital Markets decreased their target price on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $290.47.

Constellation Brands Trading Down 0.5 %

STZ traded down $1.10 during midday trading on Friday, reaching $239.66. 1,420,347 shares of the company were exchanged, compared to its average volume of 1,201,283. The stock has a market capitalization of $43.51 billion, a P/E ratio of 77.94, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The stock's 50-day simple moving average is $243.30 and its 200 day simple moving average is $247.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts' consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 EPS. As a group, analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands's payout ratio is 130.74%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. The trade was a 0.04 % 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 valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Company 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.