Cerity Partners LLC Purchases 11,856 Shares of Constellation Brands, Inc. (NYSE:STZ)

Cerity Partners LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,454 shares of the company’s stock after purchasing an additional 11,856 shares during the quarter. Cerity Partners LLC owned about 0.07% of Constellation Brands worth $31,298,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Great Valley Advisor Group Inc. increased its position in Constellation Brands by 7.7% during the third quarter. Great Valley Advisor Group Inc. now owns 20,745 shares of the company’s stock worth $5,346,000 after acquiring an additional 1,489 shares during the period. Raymond James Trust N.A. increased its holdings in shares of Constellation Brands by 32.2% during the 3rd quarter. Raymond James Trust N.A. now owns 3,567 shares of the company’s stock worth $919,000 after purchasing an additional 869 shares during the period. Pacer Advisors Inc. raised its position in shares of Constellation Brands by 31.6% during the third quarter. Pacer Advisors Inc. now owns 28,882 shares of the company’s stock valued at $7,443,000 after buying an additional 6,938 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Constellation Brands by 2.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 43,245 shares of the company’s stock valued at $11,144,000 after buying an additional 1,025 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in shares of Constellation Brands by 12.4% in the third quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock valued at $364,000 after buying an additional 156 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STZ. UBS Group lowered their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Truist Financial reduced their target price 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. Bank of America restated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the 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 directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred 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 directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by company insiders.

Constellation Brands Stock Down 0.5 %

NYSE STZ opened at $239.66 on Monday. The stock has a market capitalization of $43.51 billion, a P/E ratio of 77.56, a price-to-earnings-growth ratio of 1.70 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. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a fifty day moving average of $243.04 and a 200-day moving average of $247.41.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 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 business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

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