The Manufacturers Life Insurance Company Has $25.21 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,988 shares of the company’s stock after selling 5,082 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Constellation Brands worth $25,210,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Capital International Investors increased its stake in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors increased its position in Constellation Brands by 8.7% in the first 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 during the period. Manning & Napier Advisors LLC bought a new stake in Constellation Brands during the 2nd quarter worth about $119,394,000. Vanguard Group Inc. lifted its position in 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 purchasing an additional 462,891 shares during the period. Finally, Palestra Capital Management LLC bought a new position in shares of Constellation Brands in the 4th quarter valued at about $83,195,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STZ. UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Roth Mkm decreased their price objective on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Barclays increased their target price on Constellation Brands from $295.00 to $309.00 and gave the company an “overweight” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $297.12.

Insider Transactions at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’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 transaction, the executive vice president now directly 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 this link. 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 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 $706,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. 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 90 days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.0 %

Shares of NYSE:STZ opened at $257.62 on Wednesday. The company’s 50-day moving average price is $246.61 and its two-hundred day moving average price is $253.69. Constellation Brands, Inc. has a one year low of $227.50 and a one 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 capitalization of $47.14 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 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 analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.91 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands 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.