19,180 Shares in Constellation Brands, Inc. (NYSE:STZ) Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,180 shares of the company’s stock, valued at approximately $4,239,000.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the period. Janus Henderson Group PLC grew its stake in Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after acquiring an additional 21,454 shares during the period. Legal & General Group Plc lifted its holdings in shares of Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TD Cowen cut their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley cut their price target on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a report on Monday. Roth Mkm restated a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Piper Sandler cut their price target on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $268.05.

Insider Activity

In other news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. The trade was a 77.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,446 shares of company stock valued at $45,687,281. 12.19% of the stock is owned by insiders.

Constellation Brands Price Performance

NYSE:STZ opened at $185.84 on Tuesday. 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 stock’s 50 day moving average price is $230.80 and its two-hundred day moving average price is $240.79. The firm has a market capitalization of $33.74 billion, a price-to-earnings ratio of 60.14, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $176.51 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the company earned $3.19 EPS. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, February 7th. Constellation Brands’s payout ratio is 130.74%.

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.