Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC lifted its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 318.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,184 shares of the company's stock after purchasing an additional 7,752 shares during the quarter. Empowered Funds LLC's holdings in Constellation Brands were worth $2,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Millennium Group LLC purchased a new position in Constellation Brands during the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands during the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands during the 2nd quarter valued at $32,000. Opal Wealth Advisors LLC purchased a new position in Constellation Brands during the 2nd quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a report on Friday, October 4th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 4th. TD Cowen lowered Constellation Brands from a "buy" rating to a "hold" rating and reduced their price target for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Truist Financial reduced their price target on Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a research report on Friday, October 4th. Finally, BMO Capital Markets reduced their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $290.47.

Insider Buying and Selling at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

NYSE:STZ traded down $1.64 during mid-day trading on Wednesday, reaching $238.80. 294,057 shares of the stock were exchanged, compared to its average volume of 1,197,543. The company has a 50 day simple moving average of $243.70 and a 200-day simple moving average of $247.79. The stock has a market capitalization of $43.36 billion, a P/E ratio of 77.81, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87.

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

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. Constellation Brands's dividend payout ratio (DPR) is currently 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.