World Investment Advisors LLC Increases Position in Constellation Brands, Inc. (NYSE:STZ)

World Investment Advisors LLC lifted its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 4,601.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,771 shares of the company's stock after acquiring an additional 85,904 shares during the quarter. World Investment Advisors LLC's holdings in Constellation Brands were worth $22,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in Constellation Brands during the 2nd quarter valued at about $25,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands during the 2nd quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands during the 2nd quarter valued at about $36,000. Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands during the 2nd quarter valued at about $36,000. Finally, Wellington Shields & Co. LLC lifted its holdings in Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company's stock valued at $39,000 after buying an additional 50 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Insider Buying and Selling at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 in the last ninety days. 12.19% of the stock is owned by insiders.

Constellation Brands Price Performance

Shares of STZ stock traded down $0.50 on Friday, reaching $239.00. 1,701,897 shares of the company were exchanged, compared to its average volume of 1,221,266. The company has a market cap of $43.39 billion, a price-to-earnings ratio of 77.35, a P/E/G ratio of 1.68 and a beta of 0.90. The business has a 50-day moving average price of $240.10 and a 200 day moving average price of $246.22. 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 1 year low of $224.76 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.70 earnings per share. Equities research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands's payout ratio is 130.74%.

Analyst Ratings Changes

Several research firms have recently commented on STZ. Needham & Company LLC began coverage on shares of Constellation Brands in a report on Friday. They issued a "buy" rating and a $280.00 price target for the company. Barclays reduced their price target on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating for the company in a report on Monday, October 7th. Morgan Stanley reduced their price target on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a report on Monday, August 26th. Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a report on Friday, October 4th. Finally, UBS Group cut their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $288.70.

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.