Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Freemont Management S.A.

Freemont Management S.A. raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 66.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company's stock after acquiring an additional 6,000 shares during the quarter. Constellation Brands makes up 1.9% of Freemont Management S.A.'s portfolio, making the stock its 16th largest holding. Freemont Management S.A.'s holdings in Constellation Brands were worth $3,900,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands during the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands in the 2nd quarter valued at $32,000. LRI Investments LLC bought a new stake in Constellation Brands in the 1st quarter valued at $37,000. Finally, Opal Wealth Advisors LLC bought a new stake in Constellation Brands in the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Up 0.5 %

Constellation Brands stock traded up $1.28 during trading hours on Thursday, hitting $241.99. The company had a trading volume of 1,124,177 shares, compared to its average volume of 1,202,171. The firm has a market cap of $43.94 billion, a P/E ratio of 78.19, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The company has a 50-day moving average price of $244.49 and a two-hundred day moving average price of $248.30.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.70 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given 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 1.67%. Constellation Brands's payout ratio is presently 130.74%.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 4,970 shares of the company's stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares of the company's stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,210 shares of company stock valued at $31,040,994. Company insiders own 12.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $308.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a report on Friday, October 4th. 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 report on Monday, October 7th. Finally, Morgan Stanley reduced their price target on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating on the stock in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $290.47.

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.