BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $7.05 Million Position in Constellation Brands, Inc. (NYSE:STZ)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 13.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 27,357 shares of the company’s stock after selling 4,151 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Constellation Brands were worth $7,050,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in STZ. New Millennium Group LLC acquired a new position in Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

STZ has been the topic of several recent analyst reports. Evercore ISI dropped their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Barclays cut their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. BNP Paribas started coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Wells Fargo & Company cut their target price on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. Finally, BMO Capital Markets decreased their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $289.16.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 in the last three months. Company insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $240.95 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The firm has a market capitalization of $43.75 billion, a P/E ratio of 77.98, a PEG ratio of 1.70 and a beta of 0.90. The business has a fifty day moving average price of $241.72 and a 200-day moving average price of $246.71.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm earned $3.70 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 130.74%.

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.