Quantinno Capital Management LP Buys 2,928 Shares of Constellation Brands, Inc. (NYSE:STZ)

Quantinno Capital Management LP lifted its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 58.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,944 shares of the company's stock after acquiring an additional 2,928 shares during the quarter. Quantinno Capital Management LP's holdings in Constellation Brands were worth $2,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal London Asset Management Ltd. grew its holdings in Constellation Brands by 7.1% during the third quarter. Royal London Asset Management Ltd. now owns 69,100 shares of the company's stock worth $17,806,000 after purchasing an additional 4,570 shares during the period. Reynders McVeigh Capital Management LLC grew its holdings in Constellation Brands by 48.4% during the third quarter. Reynders McVeigh Capital Management LLC now owns 2,759 shares of the company's stock worth $711,000 after purchasing an additional 900 shares during the period. NFJ Investment Group LLC grew its holdings in Constellation Brands by 617.3% during the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company's stock worth $27,929,000 after purchasing an additional 93,273 shares during the period. Investment Management Corp of Ontario grew its holdings in Constellation Brands by 45.3% during the third quarter. Investment Management Corp of Ontario now owns 5,455 shares of the company's stock worth $1,406,000 after purchasing an additional 1,700 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company's stock worth $477,515,000 after purchasing an additional 21,454 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on STZ shares. Truist Financial reduced their price objective on Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a report on Friday, October 4th. Needham & Company LLC assumed coverage on Constellation Brands in a research note on Friday, December 6th. They issued a "buy" rating and a $280.00 price target for the company. Bank of America reiterated a "neutral" rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research report on Friday, October 4th. Finally, Morgan Stanley lowered their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $288.70.

Constellation Brands Trading Down 0.4 %

Shares of Constellation Brands stock traded down $0.93 during trading on Wednesday, hitting $241.67. The company's stock had a trading volume of 708,098 shares, compared to its average volume of 1,206,162. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The stock has a market cap of $43.88 billion, a price-to-earnings ratio of 79.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock has a 50-day moving average price of $239.53 and a two-hundred day moving average price of $246.17.

Constellation Brands (NYSE:STZ - Get Free Report) last issued 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 company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the firm posted $3.70 earnings per share. Constellation Brands's revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. Constellation Brands's dividend payout ratio (DPR) is currently 130.74%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the company's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares of the company's stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company's 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 in the company, 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 valued at $46,058,091. 12.19% of the stock is currently owned by 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.