Jacobs & Co. CA Buys 1,564 Shares of Constellation Brands, Inc. (NYSE:STZ)

Jacobs & Co. CA boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 39,189 shares of the company’s stock after acquiring an additional 1,564 shares during the period. Jacobs & Co. CA’s holdings in Constellation Brands were worth $8,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp grew its position in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the period. Janus Henderson Group PLC boosted its holdings in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after buying an additional 21,454 shares during the period. Legal & General Group Plc boosted its holdings in 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 period. Dimensional Fund Advisors LP boosted its holdings in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. 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 over the last 90 days. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on STZ shares. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a research note on Tuesday. Evercore ISI decreased their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, 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 report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $284.75.

Constellation Brands Stock Performance

Shares of NYSE STZ traded down $38.76 during midday trading on Friday, reaching $180.52. The company had a trading volume of 6,039,277 shares, compared to its average volume of 2,411,898. The business’s 50-day simple moving average is $232.90 and its 200 day simple moving average is $242.14. The stock has a market cap of $32.78 billion, a P/E ratio of 58.42, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $179.55 and a 1 year high of $274.87. 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 posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the business posted $3.19 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.24%. Constellation Brands’s dividend payout ratio (DPR) 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.