Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 274.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,259 shares of the company’s stock after purchasing an additional 13,379 shares during the period. Banque Cantonale Vaudoise’s holdings in Constellation Brands were worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at $36,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,296 shares of company stock valued at $45,899,031 over the last quarter. 12.19% of the stock is owned by insiders.

Analysts Set New Price Targets

STZ has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective 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. Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Finally, Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Stock Up 1.0 %

NYSE STZ opened at $240.44 on Wednesday. The business’s fifty day simple moving average is $243.70 and its 200-day simple moving average is $247.79. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market cap of $43.65 billion, a PE ratio of 77.81, a P/E/G ratio of 1.68 and a beta of 0.90. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87.

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

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s payout ratio is 130.74%.

Constellation Brands 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.