Cerity Partners LLC Has $31.30 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Cerity Partners LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.8% in the third quarter, HoldingsChannel.com reports. The fund owned 121,454 shares of the company’s stock after buying an additional 11,856 shares during the period. Cerity Partners LLC’s holdings in Constellation Brands were worth $31,298,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STZ. International Assets Investment Management LLC boosted its holdings in shares of Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Constellation Brands in the second quarter valued at about $119,394,000. Boston Partners grew its position in Constellation Brands by 50.9% in the first quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after acquiring an additional 328,881 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares in the last quarter. Finally, Coho Partners Ltd. lifted its holdings in shares of Constellation Brands by 40.1% in the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock worth $72,947,000 after acquiring an additional 80,970 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STZ. Truist Financial lowered their price objective 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. Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Roth Mkm restated a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Trading Down 0.5 %

NYSE:STZ opened at $239.66 on Monday. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The firm’s fifty day moving average is $243.04 and its 200-day moving average is $247.41. The firm has a market cap of $43.51 billion, a P/E ratio of 77.56, a P/E/G ratio of 1.70 and a beta of 0.90.

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

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s dividend 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.