3,478 Shares in Constellation Brands, Inc. (NYSE:STZ) Purchased by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group acquired a new position in Constellation Brands, Inc. (NYSE:STZ) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,478 shares of the company’s stock, valued at approximately $928,000.

Several other institutional investors also recently bought and sold shares of STZ. New Millennium Group LLC purchased a new position in shares of Constellation Brands in the second quarter valued at approximately $25,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands during the second quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands in the 2nd quarter valued at $36,000. Wellington Shields & Co. LLC lifted 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 valued at $39,000 after purchasing an additional 50 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Constellation Brands during the 3rd quarter worth $39,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Constellation Brands stock opened at $239.84 on Thursday. The company’s 50 day simple moving average is $239.53 and its 200-day simple moving average is $246.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The company has a market capitalization of $43.55 billion, a price-to-earnings ratio of 77.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company earned $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the 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 approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 in the last three months. 12.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

STZ has been the subject of a number of recent research reports. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. UBS Group cut their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. BNP Paribas assumed coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. Finally, Barclays reduced their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $288.70.

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.