Intech Investment Management LLC Has $2.52 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Intech Investment Management LLC cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,807 shares of the company’s stock after selling 107 shares during the period. Intech Investment Management LLC’s holdings in Constellation Brands were worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Capital International Investors raised its position in Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors raised its holdings in shares of 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 during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $119,394,000. Vanguard Group Inc. lifted its position in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Finally, Palestra Capital Management LLC acquired a new position in Constellation Brands during the fourth quarter worth $83,195,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STZ has been the topic of several recent research reports. Roth Mkm lowered their price target 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. 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. Jefferies Financial Group raised their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, Barclays raised their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Three equities 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 has an average rating of “Moderate Buy” and a consensus price target of $296.29.

Constellation Brands Trading Down 0.1 %

Shares of NYSE:STZ opened at $248.09 on Monday. The company has a market capitalization of $45.39 billion, a P/E ratio of 18.49, a P/E/G 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 business’s 50 day simple moving average is $245.42 and its 200 day simple moving average is $253.98. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

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

Constellation Brands Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on 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 transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 over the last three months. 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.