Canada Pension Plan Investment Board Raises Holdings in Constellation Brands, Inc. (NYSE:STZ)

Canada Pension Plan Investment Board increased its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 326,877 shares of the company's stock after buying an additional 3,256 shares during the quarter. Canada Pension Plan Investment Board owned about 0.18% of Constellation Brands worth $72,240,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new position in Constellation Brands in the 4th quarter worth $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands in the fourth quarter worth about $26,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Constellation Brands in the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA bought a new position in Constellation Brands during the fourth quarter valued at approximately $28,000. Finally, Versant Capital Management Inc grew its holdings in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after buying an additional 142 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Down 0.5 %

STZ traded down $0.99 on Thursday, hitting $186.29. The company had a trading volume of 667,131 shares, compared to its average volume of 2,780,018. The stock has a fifty day moving average price of $180.06 and a 200-day moving average price of $205.62. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $265.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a market capitalization of $33.67 billion, a price-to-earnings ratio of 50.08, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.26 earnings per share. Analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is presently -800.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STZ. Argus cut shares of Constellation Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. BMO Capital Markets dropped their target price on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Friday, April 11th. UBS Group decreased their price target on Constellation Brands from $265.00 to $223.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Piper Sandler cut shares of Constellation Brands from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Finally, StockNews.com lowered Constellation Brands from a "hold" rating to a "sell" rating in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of "Hold" and an average price target of $224.42.

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.