International Assets Investment Management LLC Raises Holdings in Constellation Brands, Inc. (NYSE:STZ)

International Assets Investment Management LLC increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 23,184.7% in the 3rd quarter, Holdings Channel reports. The firm owned 499,689 shares of the company’s stock after purchasing an additional 497,543 shares during the period. International Assets Investment Management LLC’s holdings in Constellation Brands were worth $128,765,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new stake in shares of Constellation Brands during the second quarter worth approximately $119,394,000. Vanguard Group Inc. increased its position in shares of Constellation Brands by 3.5% during 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. Howland Capital Management LLC boosted its stake in Constellation Brands by 3.0% during the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock worth $38,403,000 after buying an additional 4,051 shares during the last quarter. Capital International Sarl boosted its stake in Constellation Brands by 35.9% during the first quarter. Capital International Sarl now owns 10,462 shares of the company’s stock worth $2,843,000 after buying an additional 2,764 shares during the last quarter. Finally, Chemung Canal Trust Co. boosted its stake in Constellation Brands by 629.7% during the first quarter. Chemung Canal Trust Co. now owns 17,614 shares of the company’s stock worth $4,787,000 after buying an additional 15,200 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’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 owns 11,702 shares in the company, valued at $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,367 shares of company stock worth $32,539,170 in the last quarter. 12.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STZ shares. Truist Financial lowered their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Constellation Brands Price Performance

STZ stock opened at $239.38 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $43.80 billion, a PE ratio of 17.84, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $227.64 and a 12-month high of $274.87. The business’s fifty day moving average price is $246.46 and its 200 day moving average price is $250.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.70 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders 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 annualized dividend and a yield of 1.69%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

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.