M&T Bank Corp Decreases Position in Constellation Brands, Inc. (NYSE:STZ)

M&T Bank Corp decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,107 shares of the company’s stock after selling 20,537 shares during the period. M&T Bank Corp’s holdings in Constellation Brands were worth $19,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the period. State Street Corp boosted its holdings in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares during the last quarter. NFJ Investment Group LLC raised its stake in Constellation Brands by 617.3% during the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after acquiring an additional 93,273 shares in the last quarter. Finally, World Investment Advisors LLC lifted its position in Constellation Brands by 4,601.2% in the third quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock valued at $22,618,000 after acquiring an additional 85,904 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a report on Friday. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Truist Financial reduced their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, BNP Paribas began coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $288.70.

Insider Buying and Selling at Constellation Brands

In related news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $227.63 on Friday. The company has a market cap of $41.33 billion, a P/E ratio of 73.67, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. 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 $237.87 and a two-hundred day moving average of $245.37. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $3.70 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.77%. Constellation Brands’s payout ratio is 130.74%.

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.