Commerce Bank Purchases 3,665 Shares of Constellation Brands, Inc. (NYSE:STZ)

Commerce Bank boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.3% in the third quarter, HoldingsChannel reports. The firm owned 165,450 shares of the company’s stock after acquiring an additional 3,665 shares during the period. Commerce Bank’s holdings in Constellation Brands were worth $42,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STZ. Segall Bryant & Hamill LLC lifted its holdings in Constellation Brands by 7.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 52,021 shares of the company’s stock worth $13,405,000 after buying an additional 3,486 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Constellation Brands during the third quarter valued at $815,000. Banque Cantonale Vaudoise increased its position in Constellation Brands by 274.2% in the third quarter. Banque Cantonale Vaudoise now owns 18,259 shares of the company’s stock worth $4,705,000 after purchasing an additional 13,379 shares during the period. SouthState Corp raised its holdings in Constellation Brands by 5.2% during the 3rd quarter. SouthState Corp now owns 33,275 shares of the company’s stock worth $8,575,000 after purchasing an additional 1,644 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co lifted its position in Constellation Brands by 0.5% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 75,219 shares of the company’s stock valued at $19,383,000 after purchasing an additional 373 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

STZ opened at $240.44 on Wednesday. The company has a market capitalization of $43.65 billion, a price-to-earnings ratio of 77.81, a P/E/G ratio of 1.68 and a beta of 0.90. The business’s 50-day moving average price is $243.70 and its two-hundred day moving average price 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. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 EPS. Equities analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on STZ shares. 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. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $290.47.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,296 shares of company stock worth $45,899,031. 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.