Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,529 shares of the company’s stock after selling 2,373 shares during the period. Van ECK Associates Corp’s holdings in Constellation Brands were worth $11,475,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Capital International Investors grew its holdings in Constellation Brands by 39.4% during the 1st 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 in the last quarter. Capital World Investors grew its holdings in Constellation Brands by 8.7% during the 1st 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 in the last quarter. Capital Research Global Investors grew its holdings in Constellation Brands by 9.9% during the 1st 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 in the last quarter. Finally, Legal & General Group Plc grew its holdings in Constellation Brands by 5.7% during the 2nd 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 in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on STZ shares. Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Barclays reduced their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. UBS Group reduced their price target 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. Finally, Evercore ISI reduced their price target 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. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Stock Down 1.1 %

Constellation Brands stock opened at $236.99 on Wednesday. The stock has a market cap of $43.03 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 1.64 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average price is $245.30 and its two-hundred day moving average price is $249.29. Constellation Brands, Inc. has a 52 week low of $231.70 and a 52 week high of $274.87.

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

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred 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 directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,793 shares of company stock valued at $34,300,914 in the last quarter. Insiders own 12.19% of the company’s stock.

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.