National Bank of Canada FI Purchases 19,510 Shares of Constellation Brands, Inc. (NYSE:STZ)

National Bank of Canada FI lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 33.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,205 shares of the company's stock after buying an additional 19,510 shares during the period. National Bank of Canada FI's holdings in Constellation Brands were worth $20,152,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. EP Wealth Advisors LLC bought a new stake in Constellation Brands in the third quarter worth $207,000. Kovitz Investment Group Partners LLC increased its holdings in shares of Constellation Brands by 31.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 40,233 shares of the company's stock worth $9,832,000 after buying an additional 9,651 shares during the period. Voya Financial Advisors Inc. purchased a new position in shares of Constellation Brands in the third quarter worth about $229,000. State Street Corp lifted its stake in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company's stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in Constellation Brands by 9.9% during the 3rd quarter. Stifel Financial Corp now owns 213,497 shares of the company's stock valued at $55,028,000 after acquiring an additional 19,181 shares during the period. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Down 0.7 %

Shares of NYSE:STZ traded down $1.71 during midday trading on Tuesday, reaching $242.60. The company's stock had a trading volume of 1,035,089 shares, compared to its average volume of 1,208,367. 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 $239.83 and a 200-day moving average of $246.21. The firm has a market capitalization of $44.05 billion, a P/E ratio of 78.51, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping 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 prior year, the company earned $3.70 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is 130.74%.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. Insiders own 12.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STZ. TD Cowen cut Constellation Brands from a "buy" rating to a "hold" rating and decreased their price target for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Barclays decreased their target price on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a research note on Monday, October 7th. Wells Fargo & Company dropped their price target on shares of Constellation Brands from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Tuesday, November 26th. Needham & Company LLC initiated coverage on shares of Constellation Brands in a research report on Friday. They issued a "buy" rating and a $280.00 price objective on the stock. Finally, Bank of America reiterated a "neutral" rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $288.70.

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.