Great West Life Assurance Co. Can grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 3.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 152,142 shares of the company’s stock after acquiring an additional 5,029 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Constellation Brands were worth $37,618,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Smithfield Trust Co raised its position in Constellation Brands by 4.7% during the second quarter. Smithfield Trust Co now owns 823 shares of the company’s stock valued at $205,000 after purchasing an additional 37 shares during the period. Copperwynd Financial LLC raised its holdings in Constellation Brands by 1.3% during the 2nd quarter. Copperwynd Financial LLC now owns 2,855 shares of the company’s stock valued at $703,000 after buying an additional 38 shares during the period. Checchi Capital Advisers LLC lifted its position in Constellation Brands by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 1,794 shares of the company’s stock worth $442,000 after buying an additional 39 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Constellation Brands by 0.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 8,636 shares of the company’s stock worth $2,125,000 after buying an additional 41 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Constellation Brands by 24.0% during the second quarter. Lindbrook Capital LLC now owns 217 shares of the company’s stock worth $53,000 after buying an additional 42 shares during the period. Institutional investors own 88.99% of the company’s stock.
Analyst Upgrades and Downgrades
STZ has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of Constellation Brands in a research note on Monday, November 13th. They issued a “buy” rating and a $292.00 target price on the stock. The Goldman Sachs Group raised their price objective on shares of Constellation Brands from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, September 22nd. TD Cowen raised Constellation Brands from a “market perform” rating to an “outperform” rating and upped their target price for the company from $240.00 to $300.00 in a research note on Wednesday, September 6th. TheStreet upgraded Constellation Brands from a “c+” rating to a “b” rating in a report on Thursday, October 5th. Finally, StockNews.com began coverage on Constellation Brands in a report on Thursday, October 5th. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $277.38.
In related news, major shareholder Family Foundation Sands sold 102,152 shares of the business’s stock in a transaction 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 directly owns 409,077 shares in the company, valued at approximately $98,931,181.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 16.19% of the company’s stock.
Constellation Brands Price Performance
STZ opened at $236.95 on Tuesday. The firm has a market capitalization of $43.53 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.20 and a quick ratio of 0.57. The business’s 50-day moving average is $242.95 and its two-hundred day moving average is $248.47. Constellation Brands, Inc. has a 1 year low of $208.12 and a 1 year high of $273.65.
Constellation Brands (NYSE:STZ – Get Free Report) last issued its quarterly earnings data on Thursday, October 5th. The company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.37 by $0.33. Constellation Brands had a net margin of 14.41% and a return on equity of 23.35%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm earned $3.17 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Constellation Brands, Inc. will post 11.87 earnings per share for the current fiscal year.
Constellation Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, November 2nd. Constellation Brands’s payout ratio is presently 43.36%.
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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