Elo Mutual Pension Insurance Co Grows Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Elo Mutual Pension Insurance Co boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,207 shares of the company’s stock after acquiring an additional 564 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Constellation Brands were worth $3,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the second quarter worth $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands during the 1st quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda bought a new position in Constellation Brands during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock valued at $3,982,922 over the last 90 days. 12.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial restated a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a research note on Wednesday, July 3rd. Roth Mkm cut their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. UBS Group cut their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. BMO Capital Markets restated an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.78.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $251.00 on Thursday. The firm’s 50 day moving average is $245.88 and its two-hundred day moving average is $253.94. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The firm has a market capitalization of $45.93 billion, a P/E ratio of 18.70, a PEG ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.91 EPS. Analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Constellation Brands Company 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.