Artemis Investment Management LLP Sells 3,534 Shares of Constellation Brands, Inc. (NYSE:STZ)

Artemis Investment Management LLP trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,821 shares of the company’s stock after selling 3,534 shares during the quarter. Artemis Investment Management LLP owned approximately 0.08% of Constellation Brands worth $37,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. Capital International Investors boosted its position in shares of 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 purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors boosted its position in shares of 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 purchasing an additional 723,549 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares during the period. Finally, Legal & General Group Plc grew its stake in Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after acquiring an additional 72,637 shares during the period. 77.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’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 transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock valued at $3,982,922 over the last ninety days. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $241.13 on Wednesday. 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 firm has a 50-day moving average of $246.47 and a 200-day moving average of $253.10. The company has a market cap of $44.12 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results 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 return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company posted $3.70 earnings per share. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is 30.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a report on Friday, July 5th. Truist Financial dropped their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Evercore ISI reduced their price objective 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. Finally, Morgan Stanley dropped their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.06.

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.