Principal Financial Group Inc. reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,197 shares of the company's stock after selling 5,193 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Constellation Brands worth $51,589,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $119,394,000. Vanguard Group Inc. lifted its holdings in Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company's stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the period. Capital International Sarl boosted its position in shares of Constellation Brands by 35.9% during the 1st quarter. Capital International Sarl now owns 10,462 shares of the company's stock worth $2,843,000 after purchasing an additional 2,764 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Constellation Brands by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 503,058 shares of the company's stock worth $136,711,000 after purchasing an additional 5,302 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Constellation Brands by 4.1% in the 1st quarter. Sei Investments Co. now owns 176,403 shares of the company's stock valued at $47,939,000 after purchasing an additional 6,924 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.
Constellation Brands Trading Up 0.8 %
STZ traded up $1.96 during trading on Monday, hitting $236.34. The company's stock had a trading volume of 1,108,691 shares, compared to its average volume of 1,201,661. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The firm's 50 day moving average price is $244.87 and its 200-day moving average price is $248.68. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market cap of $42.91 billion, a PE ratio of 76.68, a PEG ratio of 1.65 and a beta of 0.90.
Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business posted $3.70 earnings per share. The firm'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 year.
Constellation Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.
Insider Activity at Constellation Brands
In other news, CEO William A. Newlands sold 7,426 shares of the company's 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 completion of the sale, the chief executive officer now owns 7,274 shares of the company's stock, valued at $1,725,683.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert Sands sold 119,274 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 431,729 shares of the company's stock, valued at approximately $104,638,157.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,210 shares of company stock worth $31,040,994. Company insiders own 12.19% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on STZ shares. Morgan Stanley decreased their price objective 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. Truist Financial decreased 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. Bank of America reaffirmed a "neutral" rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Barclays decreased their target price on Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a research report on Monday, October 7th. Finally, Roth Mkm restated a "buy" rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $290.47.
Get Our Latest Stock Report on Constellation Brands
About Constellation Brands
(
Free Report)
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.
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