Scotia Capital Inc. Purchases 708 Shares of Constellation Brands, Inc. (NYSE:STZ)

Scotia Capital Inc. lifted its position in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,215 shares of the company’s stock after acquiring an additional 708 shares during the period. Scotia Capital Inc.’s holdings in Constellation Brands were worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of STZ. BKM Wealth Management LLC bought a new stake in Constellation Brands in the 4th quarter worth approximately $28,000. Asset Dedication LLC lifted its holdings in Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Constellation Brands in the fourth quarter worth about $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Constellation Brands during the 3rd quarter valued at about $41,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Constellation Brands during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STZ. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their target price on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Piper Sandler started coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target for the company. Roth Mkm reiterated a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Finally, HSBC boosted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.20.

Read Our Latest Research Report on Constellation Brands

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,031 shares of company stock valued at $12,582,321. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Stock Up 0.0 %

Shares of NYSE STZ opened at $250.32 on Tuesday. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The stock’s fifty day simple moving average is $258.36 and its two-hundred day simple moving average is $251.21. The stock has a market capitalization of $45.80 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZGet Free Report) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 earnings per share. As a group, analysts expect that Constellation Brands, Inc. will post 13.56 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is 43.07%.

Constellation Brands Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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