Principal Financial Group Inc. Sells 5,193 Shares of Constellation Brands, Inc. (NYSE:STZ)

Principal Financial Group Inc. trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,197 shares of the company’s stock after selling 5,193 shares during the period. Principal Financial Group Inc.’s holdings in Constellation Brands were worth $51,589,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Paloma Partners Management Co boosted its holdings in Constellation Brands by 568.4% in the third quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after purchasing an additional 25,512 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after buying an additional 7,752 shares during the last quarter. WealthPlan Investment Management LLC boosted its stake in shares of Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after acquiring an additional 6,867 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Constellation Brands by 3.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock valued at $21,699,000 after acquiring an additional 2,980 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Constellation Brands in the 3rd quarter valued at approximately $2,132,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $227.63 on Monday. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock has a market cap of $41.33 billion, a P/E ratio of 73.67, a PEG ratio of 1.69 and a beta of 0.90. The company’s 50-day simple moving average is $237.87 and its 200 day simple moving average is $245.37.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.77%. Constellation Brands’s payout ratio is presently 130.74%.

Analyst Ratings Changes

STZ has been the subject of a number of recent analyst reports. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a report on Friday. 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 report on Friday, October 4th. BNP Paribas started coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target for the company. Finally, Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $288.70.

Insider Activity

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. The trade was 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 at this hyperlink. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,956 shares of company stock worth $46,058,091. Corporate insiders own 12.19% of the company’s stock.

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.