State Street Corp Purchases 402,211 Shares of Constellation Brands, Inc. (NYSE:STZ)

State Street Corp lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,144,428 shares of the company’s stock after buying an additional 402,211 shares during the period. State Street Corp’s holdings in Constellation Brands were worth $1,841,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $25,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the second quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Constellation Brands in the second quarter worth $36,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $36,000. Finally, Wellington Shields & Co. LLC boosted its holdings in Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 in the last ninety days. Insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, November 19th. Truist Financial lowered their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. lowered their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, BMO Capital Markets cut their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $238.99 on Friday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The stock’s 50-day moving average is $240.49 and its two-hundred day moving average is $246.35. The company has a market cap of $43.39 billion, a price-to-earnings ratio of 77.34, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $3.70 EPS. Analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. Constellation Brands’s payout ratio is 130.74%.

Constellation Brands Company 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.