Banque Cantonale Vaudoise Raises Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Banque Cantonale Vaudoise grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 274.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,259 shares of the company’s stock after purchasing an additional 13,379 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Constellation Brands were worth $4,705,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its position in Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors lifted its stake in Constellation Brands by 8.7% in the first 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 during 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. Legal & General Group Plc increased its position in shares of Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after purchasing an additional 241,982 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Morgan Stanley cut 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. Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. UBS Group cut their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Trading Up 1.0 %

NYSE:STZ opened at $240.44 on Wednesday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The business’s 50-day moving average is $243.70 and its two-hundred day moving average is $247.79. 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 firm has a market capitalization of $43.65 billion, a PE ratio of 77.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90.

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

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s payout ratio is currently 130.74%.

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.