Segall Bryant & Hamill LLC Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Segall Bryant & Hamill LLC lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,021 shares of the company's stock after purchasing an additional 3,486 shares during the period. Segall Bryant & Hamill LLC's holdings in Constellation Brands were worth $13,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Constellation Brands during the third quarter worth about $815,000. Banque Cantonale Vaudoise grew its holdings in shares of Constellation Brands by 274.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 18,259 shares of the company's stock worth $4,705,000 after acquiring an additional 13,379 shares during the period. SouthState Corp raised its holdings in Constellation Brands by 5.2% in the third quarter. SouthState Corp now owns 33,275 shares of the company's stock worth $8,575,000 after purchasing an additional 1,644 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its position in Constellation Brands by 0.5% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 75,219 shares of the company's stock valued at $19,383,000 after buying an additional 373 shares during the period. Finally, Prospera Financial Services Inc boosted its holdings in shares of Constellation Brands by 42.5% during the 3rd quarter. Prospera Financial Services Inc now owns 3,919 shares of the company's stock valued at $1,010,000 after buying an additional 1,168 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 0.3 %

Shares of NYSE:STZ opened at $239.72 on Thursday. 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, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The stock has a market capitalization of $43.52 billion, a price-to-earnings ratio of 77.58, a PEG ratio of 1.70 and a beta of 0.90. The stock's 50-day simple moving average is $243.51 and its two-hundred day simple moving average is $247.73.

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 (EPS) 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 company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $3.70 EPS. The firm's revenue was up 2.9% on a year-over-year basis. 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 will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is 130.74%.

Insider Activity at Constellation Brands

In other news, Director Robert Sands sold 119,274 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

STZ has been the subject of several research reports. Evercore ISI decreased their price target on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Barclays dropped their price target 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. Roth Mkm reaffirmed a "buy" rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. BMO Capital Markets lowered 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. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday. Four equities 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 has a consensus rating of "Moderate Buy" and an average price target of $290.47.

Constellation Brands 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.