Van ECK Associates Corp Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Van ECK Associates Corp decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,529 shares of the company's stock after selling 2,373 shares during the period. Van ECK Associates Corp's holdings in Constellation Brands were worth $11,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of STZ. Capital International Investors grew its holdings in Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company's stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors increased its stake in Constellation Brands by 8.7% during the first 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 during the last quarter. International Assets Investment Management LLC increased its stake in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock worth $128,765,000 after acquiring an additional 497,543 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at about $119,394,000. Finally, Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company's stock valued at $3,724,686,000 after buying an additional 462,891 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of STZ traded down $7.50 during mid-day trading on Wednesday, hitting $229.65. 3,182,071 shares of the company's stock were exchanged, compared to its average volume of 1,198,274. The stock's 50-day simple moving average is $245.09 and its 200-day simple moving average is $249.15. The firm has a market cap of $41.70 billion, a price-to-earnings ratio of 74.32, a price-to-earnings-growth ratio of 1.64 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 52 week low of $224.76 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last issued 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. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $3.70 earnings per share. On average, equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's payout ratio is presently 130.74%.

Insider Transactions 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 shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company's stock, valued at approximately $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,793 shares of company stock valued at $34,300,914 over the last three months. Corporate insiders own 12.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price objective on Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a research note on Friday, October 4th. BMO Capital Markets cut their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a report on Tuesday, October 15th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Barclays cut their target price on Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a research note on Monday, October 7th. Finally, Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an "overweight" rating on the stock in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $290.47.

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.