Northwestern Mutual Wealth Management Co. Acquires 199 Shares of Constellation Brands, Inc. (NYSE:STZ)

Northwestern Mutual Wealth Management Co. raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 195,048 shares of the company’s stock after acquiring an additional 199 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.11% of Constellation Brands worth $50,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Millennium Group LLC bought a new position in Constellation Brands in the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands in the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands in the first quarter valued at approximately $35,000. Finally, First Financial Corp IN bought a new position in shares of Constellation Brands during the first quarter worth $35,000. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on STZ shares. UBS Group reduced their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, September 17th. Truist Financial reissued a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, Morgan Stanley reduced their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.12.

Constellation Brands Stock Up 1.3 %

Shares of STZ stock opened at $258.40 on Monday. 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 1 year low of $227.50 and a 1 year high of $274.87. The firm’s fifty day moving average price is $246.09 and its two-hundred day moving average price is $253.79. The firm has a market capitalization of $47.28 billion, a P/E ratio of 19.25, a PEG ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm posted $2.91 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands 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 completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. 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 quarter. 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.