UniSuper Management Pty Ltd Grows Stock Position in Constellation Brands, Inc. (NYSE:STZ)

UniSuper Management Pty Ltd lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 285.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,722 shares of the company’s stock after purchasing an additional 4,239 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Constellation Brands were worth $1,555,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of STZ. Norges Bank purchased a new stake in shares of Constellation Brands during the fourth quarter worth approximately $443,844,000. Boston Partners acquired a new position in Constellation Brands during the fourth quarter worth $156,358,000. International Assets Investment Management LLC grew its holdings in Constellation Brands by 24,922.5% during the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after acquiring an additional 564,744 shares during the period. Vanguard Group Inc. grew its holdings in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after acquiring an additional 388,390 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Insiders have sold a total of 29,214 shares of company stock worth $7,620,551 in the last three months. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Trading Up 0.4 %

Shares of Constellation Brands stock traded up $0.90 during trading hours on Wednesday, reaching $246.88. The stock had a trading volume of 958,511 shares, compared to its average volume of 1,210,549. The firm has a 50 day simple moving average of $253.13 and a two-hundred day simple moving average of $255.15. The firm has a market capitalization of $44.99 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.60 and a beta of 0.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $2.91 EPS. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STZ. Truist Financial reaffirmed a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price objective on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. Jefferies Financial Group upped their price objective on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a report on Monday, April 15th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $300.53.

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.