Harbor Investment Advisory LLC Has $832,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Harbor Investment Advisory LLC cut its position in Constellation Brands, Inc. (NYSE:STZ) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,230 shares of the company’s stock after selling 509 shares during the period. Harbor Investment Advisory LLC’s holdings in Constellation Brands were worth $832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings 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. Capital International Investors raised its stake in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors boosted its stake 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 acquiring an additional 723,549 shares during the last quarter. Capital Research Global Investors grew its holdings in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after acquiring an additional 72,637 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Up 1.2 %

Shares of STZ stock opened at $246.67 on Friday. The firm’s fifty day moving average price is $246.53 and its two-hundred day moving average price is $253.39. 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, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm has a market capitalization of $45.13 billion, a P/E ratio of 18.38, a PEG ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 earnings per share. On average, equities analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. Constellation Brands’s payout ratio is 30.10%.

Insiders Place Their Bets

In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday. Jefferies Financial Group lifted 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. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Evercore ISI decreased their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday. Finally, UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $295.75.

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.