Public Sector Pension Investment Board Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

Public Sector Pension Investment Board increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,904 shares of the company’s stock after buying an additional 200 shares during the period. Public Sector Pension Investment Board’s holdings in Constellation Brands were worth $1,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands in the 2nd quarter valued at approximately $25,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands during the second quarter valued at $32,000. Opal Wealth Advisors LLC purchased a new position in Constellation Brands during the second quarter valued at $36,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $36,000. Finally, Wellington Shields & Co. LLC grew its position in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of STZ opened at $238.99 on Friday. The firm has a market capitalization of $43.39 billion, a P/E ratio of 77.34, a PEG ratio of 1.67 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The business has a fifty day moving average of $240.49 and a 200 day moving average of $246.35.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $3.70 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s payout ratio is presently 130.74%.

Insider Transactions at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 in the last 90 days. 12.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial lowered their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. BNP Paribas started coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $288.70.

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.