Vestcor Inc Acquires 36,900 Shares of Constellation Brands, Inc. (NYSE:STZ)

Vestcor Inc increased its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 675.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,367 shares of the company's stock after acquiring an additional 36,900 shares during the period. Vestcor Inc's holdings in Constellation Brands were worth $10,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Oakworth Capital Inc. raised its stake in shares of Constellation Brands by 4.4% in the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company's stock worth $255,000 after buying an additional 42 shares in the last quarter. PFG Investments LLC grew its holdings in Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company's stock worth $296,000 after acquiring an additional 42 shares during the period. Brighton Jones LLC raised its position in Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company's stock worth $244,000 after acquiring an additional 43 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company's stock valued at $1,435,000 after acquiring an additional 46 shares during the last quarter. Finally, Umpqua Bank boosted its position in shares of Constellation Brands by 4.6% during the 2nd quarter. Umpqua Bank now owns 1,124 shares of the company's stock valued at $289,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of research reports. BMO Capital Markets dropped their target price on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a report on Tuesday, October 15th. UBS Group cut their price objective on Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, September 9th. BNP Paribas started coverage on Constellation Brands in a report on Monday, November 25th. They issued a "neutral" rating and a $261.00 target price on the stock. Truist Financial reduced their target price on Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a report on Friday, October 4th. Finally, Roth Mkm reissued a "buy" rating and issued a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.70.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company's stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 431,729 shares of the company's stock, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 over the last three months. Company insiders own 12.19% of the company's stock.

Constellation Brands Stock Down 0.7 %

Shares of STZ stock traded down $1.71 on Tuesday, hitting $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 stock has a market capitalization of $44.05 billion, a price-to-earnings ratio of 78.51, a P/E/G ratio of 1.69 and a beta of 1.75. The firm's fifty day moving average price is $239.83 and its 200-day moving average price is $246.21. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.70 EPS. Research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

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.