Raymond James Financial Services Advisors Inc. Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Raymond James Financial Services Advisors Inc. increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 8.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 67,671 shares of the company’s stock after acquiring an additional 5,058 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Constellation Brands were worth $17,410,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Capital International Investors lifted its holdings in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors boosted its position in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after buying an additional 222,380 shares during the last quarter. Finally, Norges Bank purchased a new position in Constellation Brands during the fourth quarter valued at $443,844,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Up 0.7 %

STZ opened at $244.74 on Thursday. The stock has a 50-day moving average of $250.39 and a 200 day moving average of $253.82. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The firm has a market cap of $44.78 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.91 earnings per share. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be paid a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.65%. Constellation Brands’s payout ratio is 30.10%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on STZ shares. BMO Capital Markets restated an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. JPMorgan Chase & Co. increased their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Barclays lifted their target price on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Truist Financial reaffirmed a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $300.28.

Insider Activity

In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by company insiders.

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.