Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,025 shares of the company’s stock after acquiring an additional 9,154 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Constellation Brands were worth $20,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STZ. LRI Investments LLC acquired a new stake in shares of Constellation Brands in the 1st quarter worth $37,000. Swedbank AB acquired a new stake in Constellation Brands during the 1st quarter worth about $561,000. Cetera Investment Advisers grew its stake in Constellation Brands by 128.2% during the 1st quarter. Cetera Investment Advisers now owns 40,716 shares of the company’s stock valued at $11,065,000 after purchasing an additional 22,870 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of Constellation Brands by 182.1% in the first quarter. Cetera Advisors LLC now owns 14,236 shares of the company’s stock valued at $3,869,000 after purchasing an additional 9,190 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Constellation Brands by 1.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 27,385 shares of the company’s stock worth $7,383,000 after purchasing an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 2.1 %

Shares of STZ stock opened at $240.85 on Friday. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock’s fifty day moving average is $241.72 and its two-hundred day moving average is $246.80. The firm has a market capitalization of $43.73 billion, a P/E ratio of 77.94, a PEG ratio of 1.67 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping 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 firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $3.70 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated 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 directly owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Sands sold 119,274 shares of the firm’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 directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 21.65 % 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. 12.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STZ. Truist Financial cut their price objective 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. Bank of America restated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. BMO Capital Markets lowered their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Finally, BNP Paribas began coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

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.