Connor Clark & Lunn Investment Management Ltd. Has $4.83 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 54.0% in the 4th quarter, Holdings Channel reports. The firm owned 21,871 shares of the company’s stock after selling 25,704 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Constellation Brands were worth $4,833,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Janus Henderson Group PLC raised its position in Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Constellation Brands by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock valued at $394,035,000 after purchasing an additional 38,786 shares in the last quarter. Van ECK Associates Corp raised its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Constellation Brands during the fourth quarter worth $105,766,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial decreased their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Roth Capital decreased their target price on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, UBS Group decreased their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $252.81.

Constellation Brands Stock Performance

Shares of STZ opened at $181.46 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $32.79 billion, a P/E ratio of 48.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm’s fifty day simple moving average is $180.58 and its two-hundred day simple moving average is $219.08. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the company posted $3.19 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. Constellation Brands’s dividend payout ratio is currently 108.60%.

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.