Sanibel Captiva Trust Company Inc. Raises Holdings in Constellation Brands, Inc. (NYSE:STZ)

Sanibel Captiva Trust Company Inc. grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 85.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,209 shares of the company’s stock after purchasing an additional 6,998 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Constellation Brands were worth $3,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Brevan Howard Capital Management LP increased its holdings in shares of Constellation Brands by 224.1% in the 4th quarter. Brevan Howard Capital Management LP now owns 5,717 shares of the company’s stock valued at $1,382,000 after acquiring an additional 3,953 shares during the last quarter. Barden Capital Management Inc. increased its position in Constellation Brands by 11.4% during the fourth quarter. Barden Capital Management Inc. now owns 5,998 shares of the company’s stock worth $1,500,000 after buying an additional 612 shares in the last quarter. Bain Capital Public Equity Management II LLC increased its position in Constellation Brands by 0.7% during the fourth quarter. Bain Capital Public Equity Management II LLC now owns 630,515 shares of the company’s stock worth $152,427,000 after buying an additional 4,348 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its position in Constellation Brands by 4.5% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 269,149 shares of the company’s stock worth $65,067,000 after buying an additional 11,705 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Constellation Brands during the fourth quarter worth $301,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $239.60 on Friday. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm has a 50 day moving average of $246.33 and a 200-day moving average of $252.82. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $43.84 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted 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 net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. Constellation Brands’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is presently 30.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STZ. Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Barclays reduced their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group cut their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Truist Financial cut their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $291.06.

Insider Buying and Selling

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.19% of the company’s stock.

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.