Truvestments Capital LLC Invests $60,000 in Constellation Brands, Inc. (NYSE:STZ)

Truvestments Capital LLC acquired a new position in Constellation Brands, Inc. (NYSE:STZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 234 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after buying an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after purchasing an additional 241,982 shares during the last quarter. Boston Partners grew its position in Constellation Brands by 50.9% during the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after purchasing an additional 328,881 shares during the last quarter. International Assets Investment Management LLC grew its position in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter worth approximately $119,394,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,956 shares of company stock worth $46,058,091. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

STZ has been the topic of several research analyst reports. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. BNP Paribas initiated coverage on shares of Constellation Brands in a research report on Monday. They set a “neutral” rating and a $261.00 target price on the stock. Evercore ISI dropped their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Truist Financial decreased their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $289.16.

Constellation Brands Stock Performance

STZ opened at $235.97 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a fifty day moving average price of $242.12 and a 200 day moving average price of $247.00. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The stock has a market cap of $42.84 billion, a P/E ratio of 76.37, a P/E/G ratio of 1.71 and a beta of 0.90.

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

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 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.