Bank of New York Mellon Corp Sells 36,705 Shares of Constellation Brands, Inc. (NYSE:STZ)

Bank of New York Mellon Corp reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 984,794 shares of the company’s stock after selling 36,705 shares during the quarter. Bank of New York Mellon Corp’s holdings in Constellation Brands were worth $253,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Stifel Financial Corp lifted its holdings in shares of Constellation Brands by 3.2% during the 4th quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after acquiring an additional 5,951 shares during the last quarter. KBC Group NV boosted its holdings in shares of Constellation Brands by 100.4% in the 4th quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after purchasing an additional 125,730 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Constellation Brands during the 2nd quarter valued at about $119,394,000. Vanguard Group Inc. raised its holdings in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Finally, Howland Capital Management LLC lifted its position in Constellation Brands by 3.0% in the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock worth $38,403,000 after buying an additional 4,051 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STZ shares. Truist Financial reiterated a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. UBS Group boosted their target price on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, JPMorgan Chase & Co. raised their price target on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $299.21.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock valued at $3,982,922 in the last three months. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.8 %

NYSE:STZ opened at $243.11 on Tuesday. The company has a 50-day moving average price of $249.62 and a 200-day moving average price of $253.84. The stock has a market cap of $44.48 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.62 and a beta of 1.75. 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.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 earnings per share. Equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.66%. Constellation Brands’s payout ratio is 30.10%.

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.