Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Commerce Bank

Commerce Bank raised its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,450 shares of the company's stock after purchasing an additional 3,665 shares during the period. Commerce Bank owned approximately 0.09% of Constellation Brands worth $42,635,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company's stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company's stock worth $2,456,892,000 after acquiring an additional 723,549 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of 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 buying an additional 497,543 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Constellation Brands during the second quarter valued at approximately $119,394,000. Finally, Boston Partners grew its position in Constellation Brands by 50.9% in the first quarter. Boston Partners now owns 975,589 shares of the company's stock worth $265,099,000 after acquiring an additional 328,881 shares during the period. 77.34% of the stock is owned by institutional investors.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated 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 owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,296 shares of company stock worth $45,899,031 in the last quarter. Company insiders own 12.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets reduced their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 15th. Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a report on Monday, October 7th. Truist Financial dropped their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a research note on Friday, October 4th. Roth Mkm reaffirmed a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $290.47.

Constellation Brands Price Performance

Shares of STZ traded down $1.32 on Wednesday, reaching $239.12. The stock had a trading volume of 544,064 shares, compared to its average volume of 1,198,704. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The firm has a market capitalization of $43.41 billion, a PE ratio of 77.81, a PEG 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. The firm has a 50-day moving average of $243.70 and a 200 day moving average of $247.79.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts' consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business 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. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands's dividend payout ratio is currently 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.