BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Holdings in Constellation Brands, Inc. (NYSE:STZ)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 60.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,508 shares of the company’s stock after buying an additional 11,866 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Constellation Brands were worth $8,106,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of STZ. Orion Portfolio Solutions LLC raised its holdings in shares of Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after acquiring an additional 39 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares in the last quarter. Copperwynd Financial LLC boosted its stake in shares of Constellation Brands by 1.6% during the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock worth $672,000 after purchasing an additional 43 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after buying an additional 43 shares in the last quarter. Finally, RDA Financial Network raised its position in shares of Constellation Brands by 2.3% in the first quarter. RDA Financial Network now owns 1,923 shares of the company’s stock valued at $523,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $251.90 on Thursday. The firm’s fifty day simple moving average is $245.62 and its 200 day simple moving average is $253.94. 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 twelve month low of $227.50 and a twelve month high of $274.87. The firm has a market capitalization of $46.09 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share 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 paid a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.60%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last 90 days. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on STZ shares. UBS Group decreased their target price 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Truist Financial reissued a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Barclays upped their price objective on shares of Constellation Brands from $295.00 to $309.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $297.12.

Constellation Brands Company 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.