Bank of Montreal Can Has $79.37 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Bank of Montreal Can decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,159 shares of the company’s stock after selling 11,057 shares during the quarter. Bank of Montreal Can’s holdings in Constellation Brands were worth $79,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of STZ. Legal & General Group Plc increased its position in Constellation Brands by 5.7% during the second 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 increased its holdings in shares of Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after acquiring an additional 241,982 shares during the last quarter. Boston Partners increased its holdings in shares of Constellation Brands by 50.9% during the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after acquiring an additional 328,881 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 valued at $128,765,000 after acquiring an additional 497,543 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in Constellation Brands in the 2nd quarter worth approximately $119,394,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ stock opened at $233.68 on Wednesday. The firm has a market cap of $42.43 billion, a price-to-earnings ratio of 75.62, a P/E/G ratio of 1.69 and a beta of 1.75. The stock’s fifty day simple moving average is $242.42 and its 200 day simple moving average is $247.08. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. 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 (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) 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 analysts’ expectations of $2.95 billion. During the same period in the previous year, the business posted $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced 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. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.73%. Constellation Brands’s payout ratio is presently 130.74%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on STZ. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Evercore ISI cut their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Morgan Stanley decreased their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Truist Financial dropped their price target on 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 equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $289.16.

Insider Activity at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 over the last ninety days. Company insiders own 12.19% of the company’s stock.

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.