Janney Montgomery Scott LLC Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Janney Montgomery Scott LLC grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,097 shares of the company's stock after buying an additional 2,182 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Constellation Brands worth $34,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in STZ. New Millennium Group LLC purchased a new position in shares of Constellation Brands in the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at $32,000. LRI Investments LLC bought a new stake in shares of Constellation Brands during the 1st quarter worth $37,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $36,000. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BMO Capital Markets reduced their price objective on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. Morgan Stanley dropped their price target on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. Truist Financial reduced their price objective on shares of 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, Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $290.47.

Constellation Brands Stock Performance

NYSE:STZ traded up $6.97 on Monday, hitting $239.74. The stock had a trading volume of 1,816,887 shares, compared to its average volume of 1,189,523. The business's 50-day simple moving average is $245.43 and its two-hundred day simple moving average is $249.59. The stock has a market cap of $43.53 billion, a price-to-earnings ratio of 77.89, a price-to-earnings-growth ratio of 1.64 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $231.70 and a 52-week high of $274.87. 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 (NYSE:STZ - Get Free Report) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts' consensus estimates of $4.08 by $0.24. The business 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 revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 earnings per share. As a group, research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. Constellation Brands's payout ratio is currently 130.74%.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business'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 transaction, the executive vice president now owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,793 shares of company stock worth $34,300,914. 12.19% of the stock is owned by company insiders.

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.