Moors & Cabot Inc. Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Moors & Cabot Inc. raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.5% during the 2nd quarter, Holdings Channel reports. The firm owned 32,006 shares of the company’s stock after purchasing an additional 144 shares during the quarter. Moors & Cabot Inc.’s holdings in Constellation Brands were worth $8,235,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STZ. Stifel Financial Corp lifted its stake in Constellation Brands by 3.2% in the 4th quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock valued at $46,570,000 after buying an additional 5,951 shares in the last quarter. KBC Group NV lifted its position in shares of Constellation Brands by 100.4% in the fourth quarter. KBC Group NV now owns 250,945 shares of the company’s stock valued at $60,666,000 after acquiring an additional 125,730 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands during the second quarter valued at $119,394,000. Vanguard Group Inc. boosted 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 valued at $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Finally, Howland Capital Management LLC increased its position in Constellation Brands by 3.0% during the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock worth $38,403,000 after purchasing an additional 4,051 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $815,853.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock worth $3,982,922 over the last quarter. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Up 0.4 %

STZ opened at $253.53 on Tuesday. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm has a 50 day moving average price of $245.91 and a 200 day moving average price of $253.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company has a market cap of $46.39 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $2.91 earnings per share. Sell-side analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.59%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Analysts Set New Price Targets

A number of research analysts have issued reports on STZ shares. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. BMO Capital Markets restated an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. UBS Group lowered their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Truist Financial reissued a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, Jefferies Financial Group lifted their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $296.78.

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.