Cetera Investment Advisers decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,212 shares of the company’s stock after selling 1,510 shares during the quarter. Cetera Investment Advisers’ holdings in Constellation Brands were worth $4,729,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after purchasing an additional 313,344 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in Constellation Brands by 103,844.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,206,335 shares of the company’s stock worth $2,265,955,000 after buying an additional 9,197,478 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Constellation Brands by 100.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,890,702 shares of the company’s stock worth $1,782,432,000 after acquiring an additional 3,961,836 shares in the last quarter. Morgan Stanley grew its stake in Constellation Brands by 31.3% in the fourth quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock valued at $882,799,000 after acquiring an additional 908,486 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Constellation Brands by 84,839.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after acquiring an additional 3,738,028 shares in the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.
Insider Transactions at Constellation Brands
In other news, major shareholder Family Foundation Sands sold 102,152 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $241.84, for a total transaction of $24,704,439.68. Following the transaction, the insider now owns 409,077 shares in the company, valued at $98,931,181.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.19% of the stock is owned by corporate insiders.
Constellation Brands Stock Performance
Constellation Brands (NYSE:STZ – Get Free Report) last released its quarterly earnings data on Thursday, October 5th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.37 by $0.33. Constellation Brands had a return on equity of 23.35% and a net margin of 14.41%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the firm posted $3.17 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Constellation Brands, Inc. will post 11.87 earnings per share for the current year.
Constellation Brands Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were paid a dividend of $0.89 per share. The ex-dividend date was Thursday, November 2nd. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.51%. Constellation Brands’s dividend payout ratio (DPR) is currently 43.36%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on STZ. Royal Bank of Canada reiterated an “outperform” rating and issued a $295.00 price objective on shares of Constellation Brands in a research report on Friday, September 15th. Wells Fargo & Company upped their price target on shares of Constellation Brands from $280.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, October 3rd. Truist Financial restated a “hold” rating and set a $260.00 price objective on shares of Constellation Brands in a report on Friday, October 6th. TheStreet raised shares of Constellation Brands from a “c+” rating to a “b” rating in a research note on Thursday, October 5th. Finally, HSBC lifted their price target on Constellation Brands from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, October 6th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $277.38.
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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