Nisa Investment Advisors LLC Has $15.82 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Nisa Investment Advisors LLC raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,475 shares of the company’s stock after buying an additional 100 shares during the period. Nisa Investment Advisors LLC’s holdings in Constellation Brands were worth $15,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James & Associates increased its holdings in shares of Constellation Brands by 14.4% in the second quarter. Raymond James & Associates now owns 443,084 shares of the company’s stock valued at $113,997,000 after purchasing an additional 55,932 shares in the last quarter. Oakworth Capital Inc. increased its holdings in shares of Constellation Brands by 511.0% in the second quarter. Oakworth Capital Inc. now owns 947 shares of the company’s stock valued at $244,000 after purchasing an additional 792 shares in the last quarter. Everpar Advisors LLC increased its holdings in shares of Constellation Brands by 11.5% in the second quarter. Everpar Advisors LLC now owns 3,370 shares of the company’s stock valued at $867,000 after purchasing an additional 347 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Constellation Brands by 4.6% in the second quarter. Brookstone Capital Management now owns 14,673 shares of the company’s stock valued at $3,642,000 after purchasing an additional 647 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Constellation Brands by 16.3% in the second quarter. Swedbank AB now owns 2,400 shares of the company’s stock valued at $617,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.1 %

STZ opened at $242.96 on Tuesday. The stock has a market capitalization of $44.46 billion, a P/E ratio of 18.10, a P/E/G ratio of 1.62 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The firm’s fifty day simple moving average is $250.71 and its 200 day simple moving average is $253.94. 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 posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.91 EPS. As a group, research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.66%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Garth Hankinson sold 13,583 shares of the business’s 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 in the company, valued at $2,808,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. UBS Group lifted their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. lifted their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. Truist Financial reaffirmed a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.28.

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.