Alaethes Wealth LLC Acquires 158 Shares of Constellation Brands, Inc. (NYSE:STZ)

Alaethes Wealth LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,812 shares of the company’s stock after acquiring an additional 158 shares during the quarter. Alaethes Wealth LLC’s holdings in Constellation Brands were worth $1,238,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of STZ. Capital International Investors grew its stake in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares in the last quarter. Capital World Investors grew its position in Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at $119,394,000. Vanguard Group Inc. lifted its position in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Finally, Palestra Capital Management LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth about $83,195,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $248.09 on Friday. The firm has a market cap of $45.39 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock’s fifty day moving average price is $245.42 and its two-hundred day moving average price is $253.90. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the business posted $2.91 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts expect that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Analysts Set New Price Targets

STZ has been the topic of several analyst reports. Truist Financial reiterated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. Morgan Stanley cut their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $296.78.

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.