Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 322,131 shares of the company’s stock after selling 12,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.18% of Constellation Brands worth $82,878,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. New Millennium Group LLC purchased a new position in shares of Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. acquired a new stake in shares of Constellation Brands during the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.1 %

Shares of NYSE:STZ opened at $248.09 on Friday. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock has a market cap of $45.39 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.69 and a beta of 1.75. The firm has a fifty day moving average price of $245.42 and a 200 day moving average price of $253.90.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.91 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

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 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 transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock worth $3,982,922 in the last three months. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on STZ shares. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Tuesday. Jefferies Financial Group boosted their price objective on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. cut their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, Barclays lifted their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $296.78.

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.