Charles Schwab Investment Management Inc. Acquires 13,288 Shares of Constellation Brands, Inc. (NYSE:STZ)

Charles Schwab Investment Management Inc. lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.4% during the second quarter, HoldingsChannel.com reports. The firm owned 929,775 shares of the company’s stock after purchasing an additional 13,288 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Constellation Brands were worth $228,846,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Prudential PLC acquired a new position in Constellation Brands during the first quarter worth $705,000. Cetera Investment Advisers increased its holdings in Constellation Brands by 1.0% during the first quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock worth $3,921,000 after buying an additional 163 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Constellation Brands by 17.6% during the first quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock worth $725,000 after buying an additional 471 shares during the last quarter. Vanguard Group Inc. increased its holdings in Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after buying an additional 313,344 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in Constellation Brands during the first quarter worth $257,000. Institutional investors own 88.99% of the company’s stock.

Insider Transactions at Constellation Brands

In other news, major shareholder Family Foundation Sands sold 136,362 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $242.27, for a total value of $33,036,421.74. Following the completion of the transaction, the insider now owns 681,792 shares of the company’s stock, valued at $165,177,747.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.19% of the company’s stock.

Constellation Brands Trading Down 0.4 %

STZ opened at $235.63 on Friday. Constellation Brands, Inc. has a twelve month low of $208.12 and a twelve month high of $273.65. The company has a 50-day simple moving average of $243.40 and a 200 day simple moving average of $248.07. The company has a quick ratio of 0.57, a current ratio of 1.20 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $43.28 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 1.89 and a beta of 1.05.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.33. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Constellation Brands had a net margin of 14.41% and a return on equity of 23.35%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.17 earnings per share. Analysts predict that Constellation Brands, Inc. will post 11.87 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were issued a $0.89 dividend. 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%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STZ shares. HSBC boosted their target price on shares of Constellation Brands from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, October 6th. Wells Fargo & Company upped their price objective 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 reiterated a “hold” rating and issued a $260.00 price objective on shares of Constellation Brands in a report on Friday, October 6th. StockNews.com began coverage on shares of Constellation Brands in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Morgan Stanley upped their price objective on shares of Constellation Brands from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.38.

About Constellation Brands

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.