Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Secure Asset Management LLC

Secure Asset Management LLC lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,322 shares of the company’s stock after acquiring an additional 637 shares during the period. Secure Asset Management LLC’s holdings in Constellation Brands were worth $1,369,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in STZ. International Assets Investment Management LLC lifted its position in shares of Constellation Brands by 3.5% during the 4th quarter. International Assets Investment Management LLC now owns 2,345 shares of the company’s stock worth $567,000 after buying an additional 79 shares during the last quarter. abrdn plc boosted its stake in Constellation Brands by 72.6% in the fourth quarter. abrdn plc now owns 66,314 shares of the company’s stock valued at $16,031,000 after acquiring an additional 27,901 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Constellation Brands by 53.0% in the fourth quarter. Lindbrook Capital LLC now owns 381 shares of the company’s stock valued at $92,000 after acquiring an additional 132 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Constellation Brands by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,211 shares of the company’s stock worth $3,677,000 after purchasing an additional 181 shares during the last quarter. Finally, CWM LLC increased its position in shares of Constellation Brands by 18.4% during the fourth quarter. CWM LLC now owns 5,273 shares of the company’s stock worth $1,275,000 after purchasing an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock valued at $3,982,922 in the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Wednesday, July 31st. Truist Financial reaffirmed a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. Jefferies Financial Group upped their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Finally, UBS Group upped their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $300.28.

Constellation Brands Price Performance

STZ stock traded up $1.51 on Friday, reaching $245.21. 637,073 shares of the company’s stock were exchanged, compared to its average volume of 1,175,121. The stock has a fifty day moving average of $250.01 and a 200-day moving average of $253.74. The firm has a market cap of $44.87 billion, a PE ratio of 18.27, a P/E/G ratio of 1.62 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm earned $2.91 EPS. The business’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

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 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.