State Street Corp Grows Position in Constellation Brands, Inc. (NYSE:STZ)

State Street Corp grew its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,144,428 shares of the company's stock after purchasing an additional 402,211 shares during the period. State Street Corp owned about 3.94% of Constellation Brands worth $1,841,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STZ. Janus Henderson Group PLC lifted its position in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company's stock worth $477,515,000 after buying an additional 21,454 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company's stock worth $343,717,000 after acquiring an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock valued at $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Constellation Brands by 14.4% during the 2nd quarter. Raymond James & Associates now owns 443,084 shares of the company's stock valued at $113,997,000 after purchasing an additional 55,932 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STZ has been the subject of several analyst reports. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a research report on Friday, October 4th. Needham & Company LLC assumed coverage on Constellation Brands in a research report on Friday. They set a "buy" rating and a $280.00 price target on the stock. 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. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. Finally, Morgan Stanley decreased their target price 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. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $288.70.

Constellation Brands Stock Down 0.2 %

Shares of NYSE:STZ traded down $0.50 during trading on Friday, hitting $239.00. The stock had a trading volume of 1,701,897 shares, compared to its average volume of 1,221,266. The company has a market capitalization of $43.39 billion, a PE ratio of 77.35, a PEG ratio of 1.68 and a beta of 0.90. 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's fifty day moving average is $240.10 and its 200 day moving average is $246.23. 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 posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Insider Buying and Selling at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 7,274 shares of the company's stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company's stock.

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.