National Pension Service Buys 45,707 Shares of Constellation Brands, Inc. (NYSE:STZ)

National Pension Service raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 13.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 381,755 shares of the company’s stock after acquiring an additional 45,707 shares during the quarter. National Pension Service’s holdings in Constellation Brands were worth $98,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. LRI Investments LLC bought a new stake in shares of Constellation Brands during the 1st quarter worth approximately $37,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Up 3.0 %

STZ opened at $239.74 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company’s 50-day moving average is $245.36 and its 200 day moving average is $249.45. Constellation Brands, Inc. has a fifty-two week low of $231.70 and a fifty-two week high of $274.87. The firm has a market capitalization of $43.53 billion, a P/E ratio of 77.59, a PEG ratio of 1.64 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 earnings per share. Research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Analysts Set New Price Targets

A number of research firms recently issued reports on STZ. Roth Mkm reiterated a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Truist Financial decreased their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Barclays decreased their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Activity

In other news, CEO William A. Newlands sold 7,426 shares of the business’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO William A. Newlands sold 7,426 shares of the business’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,793 shares of company stock valued at $34,300,914 over the last quarter. Company insiders own 12.19% of the company’s stock.

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.