Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,140,680 shares of the company's stock after selling 32,430 shares during the period. Geode Capital Management LLC owned approximately 1.73% of Constellation Brands worth $805,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of STZ. State Street Corp grew its stake in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock worth $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company's stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. Legal & General Group Plc grew its stake in Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company's stock worth $343,717,000 after purchasing an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock worth $257,865,000 after purchasing an additional 241,982 shares during the period. Finally, International Assets Investment Management LLC raised its position in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STZ shares. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an "overweight" rating on the stock in a research report on Friday, October 4th. Truist Financial cut their price target on Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, October 4th. BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They set a "neutral" rating and a $261.00 price objective for the company. Roth Mkm restated a "buy" rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Wells Fargo & Company dropped their price target on shares of Constellation Brands from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and an average price target of $288.70.

Insider Buying and Selling

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was 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 in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's stock in a transaction on Monday, October 14th. The shares were 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 owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company's stock.

Constellation Brands Stock Performance

NYSE:STZ traded down $0.45 during mid-day trading on Thursday, reaching $239.44. The stock had a trading volume of 1,214,750 shares, compared to its average volume of 1,209,848. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The business has a 50 day simple moving average of $239.22 and a 200 day simple moving average of $246.12. The firm has a market capitalization of $43.47 billion, a price-to-earnings ratio of 77.62, a PEG ratio of 1.69 and a beta of 1.75. 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 (NYSE:STZ - Get Free Report) last posted its quarterly 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 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 period in the previous year, the business earned $3.70 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is 130.74%.

Constellation Brands Company 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.