Constellation Brands, Inc. (NYSE:STZ) Shares Bought by TIAA Trust National Association

TIAA Trust National Association boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 30.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,831 shares of the company’s stock after purchasing an additional 21,085 shares during the quarter. TIAA Trust National Association’s holdings in Constellation Brands were worth $23,112,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. Rhumbline Advisers boosted its holdings in shares of Constellation Brands by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 326,729 shares of the company’s stock valued at $84,061,000 after purchasing an additional 4,224 shares during the last quarter. Klingenstein Fields & Co. LP grew its position in Constellation Brands by 1.1% during the second quarter. Klingenstein Fields & Co. LP now owns 114,231 shares of the company’s stock valued at $29,389,000 after acquiring an additional 1,292 shares during the period. Guidance Capital Inc. increased its stake in Constellation Brands by 34.9% during the second quarter. Guidance Capital Inc. now owns 1,310 shares of the company’s stock worth $321,000 after acquiring an additional 339 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Constellation Brands by 0.8% in the 2nd quarter. Crestwood Advisors Group LLC now owns 134,165 shares of the company’s stock valued at $34,518,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Constellation Brands by 7.2% during the 2nd quarter. Natixis Advisors LLC now owns 82,531 shares of the company’s stock worth $21,234,000 after purchasing an additional 5,526 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ opened at $246.91 on Wednesday. The firm has a market cap of $45.18 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $246.95 and its 200 day moving average price is $253.70.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating 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 firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the firm posted $2.91 EPS. Constellation Brands’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.54 earnings per share for the current year.

Constellation Brands Dividend Announcement

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. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STZ. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Roth Mkm reduced their price objective on Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research note on Friday, July 5th. Truist Financial reaffirmed a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $298.53.

Insider Buying and Selling

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on 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 completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock valued at $3,982,922 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

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.