Intech Investment Management LLC Sells 107 Shares of Constellation Brands, Inc. (NYSE:STZ)

Intech Investment Management LLC lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 1.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,807 shares of the company’s stock after selling 107 shares during the period. Intech Investment Management LLC’s holdings in Constellation Brands were worth $2,523,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of STZ. Orion Portfolio Solutions LLC lifted its holdings in Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after buying an additional 39 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Constellation Brands by 16.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares in the last quarter. Copperwynd Financial LLC grew its stake in Constellation Brands by 1.6% during the fourth quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock worth $672,000 after purchasing an additional 43 shares during the period. RDA Financial Network increased its holdings in Constellation Brands by 2.3% in the first quarter. RDA Financial Network now owns 1,923 shares of the company’s stock worth $523,000 after purchasing an additional 44 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its stake in Constellation Brands by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after buying an additional 44 shares during the period. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STZ. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Barclays boosted their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Truist Financial reaffirmed a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $296.29.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $248.09 on Monday. The business’s fifty day simple moving average is $245.42 and its 200 day simple moving average is $253.98. 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 capitalization of $45.39 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion during 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 business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.91 EPS. As a group, analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

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

Insider Activity

In related 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 value of $254,997.00. Following the sale, the executive vice president now 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 is available at the SEC website. 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 owns 2,706 shares of the company’s stock, valued at approximately $706,266. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Insiders sold 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.

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.