Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,688 shares of the company's stock after acquiring an additional 8,137 shares during the quarter. HighTower Advisors LLC owned 0.13% of Constellation Brands worth $61,313,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the second quarter valued at $29,000. Park Avenue Securities LLC increased its position in Constellation Brands by 9.5% during the second quarter. Park Avenue Securities LLC now owns 3,538 shares of the company's stock valued at $910,000 after acquiring an additional 308 shares during the last quarter. CWM LLC increased its position in Constellation Brands by 1.0% during the second quarter. CWM LLC now owns 5,126 shares of the company's stock valued at $1,319,000 after acquiring an additional 50 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in Constellation Brands by 8.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 6,931 shares of the company's stock valued at $1,783,000 after acquiring an additional 539 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in Constellation Brands by 7.5% during the second quarter. Simplicity Wealth LLC now owns 3,078 shares of the company's stock valued at $792,000 after acquiring an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STZ shares. Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an "overweight" rating for the company in a report on Monday, October 7th. BMO Capital Markets dropped their price objective on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research note on Tuesday, October 15th. Wells Fargo & Company dropped their price objective on Constellation Brands from $300.00 to $295.00 and set an "overweight" rating for the company in a research note on Tuesday, November 26th. Truist Financial dropped 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $289.16.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands 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 sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 in the last 90 days. Insiders own 12.19% of the company's stock.

Constellation Brands Trading Up 0.5 %

STZ traded up $1.16 during trading on Wednesday, hitting $238.22. 898,359 shares of the stock were exchanged, compared to its average volume of 1,205,462. The firm has a 50 day simple moving average of $240.80 and a 200 day simple moving average of $246.40. The firm has a market cap of $43.25 billion, a price-to-earnings ratio of 77.09, a P/E/G ratio of 1.68 and a beta of 0.90. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. 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 announced its earnings results 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 business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.70 EPS. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. Constellation Brands's payout ratio 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.