Comerica Bank Has $20 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Comerica Bank increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,602 shares of the company’s stock after purchasing an additional 1,368 shares during the period. Comerica Bank’s holdings in Constellation Brands were worth $20,002,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Coppell Advisory Solutions Corp. acquired a new position in Constellation Brands in the first quarter worth about $282,000. Tidal Investments LLC raised its position in Constellation Brands by 51.5% in the first quarter. Tidal Investments LLC now owns 14,557 shares of the company’s stock worth $3,957,000 after purchasing an additional 4,949 shares in the last quarter. California State Teachers Retirement System raised its position in Constellation Brands by 1.8% in the first quarter. California State Teachers Retirement System now owns 284,224 shares of the company’s stock worth $77,241,000 after purchasing an additional 5,111 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Constellation Brands by 12.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,105 shares of the company’s stock worth $2,288,000 after purchasing an additional 974 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its position in Constellation Brands by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock worth $285,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. Insiders have sold a total of 31,068 shares of company stock valued at $8,088,556 over the last three months. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Down 0.0 %

STZ stock traded down $0.03 during midday trading on Thursday, reaching $245.13. The company’s stock had a trading volume of 309,868 shares, compared to its average volume of 1,200,972. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The stock has a market cap of $44.67 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $252.54 and its 200-day simple moving average is $254.84.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.91 earnings per share. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.65%. Constellation Brands’s dividend payout ratio is 30.10%.

Analyst Ratings Changes

Several research firms have recently weighed in on STZ. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. UBS Group raised their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Truist Financial reaffirmed a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, Roth Mkm dropped their price objective on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $300.28.

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.