Cornell Pochily Investment Advisors Inc. Increases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Cornell Pochily Investment Advisors Inc. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,511 shares of the company’s stock after purchasing an additional 156 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Constellation Brands were worth $1,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter valued at approximately $32,000. First Financial Corp IN bought a new position in Constellation Brands in the first quarter worth approximately $35,000. Finally, LRI Investments LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth $37,000. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Barclays lowered their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Finally, Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $291.06.

Insiders Place Their Bets

In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $245.71 on Tuesday. The business’s 50-day moving average is $246.28 and its 200 day moving average is $252.09. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The company has a market capitalization of $44.96 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.70 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

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

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. Constellation Brands’s payout ratio is currently 30.10%.

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.