Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 318.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,184 shares of the company’s stock after acquiring an additional 7,752 shares during the quarter. Empowered Funds LLC’s holdings in Constellation Brands were worth $2,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors increased its stake in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares during the last quarter. Capital World Investors increased its stake in Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the last quarter. Capital Research Global Investors increased its stake in Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the last quarter. Legal & General Group Plc increased its stake in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,296 shares of company stock valued at $45,899,031 in the last three months. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $240.44 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The stock has a 50 day moving average price of $243.70 and a 200 day moving average price of $247.79. The company has a market capitalization of $43.65 billion, a price-to-earnings ratio of 77.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm posted $3.70 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Analysts Set New Price Targets

STZ has been the subject of several research analyst reports. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Evercore ISI lowered their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $290.47.

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.