Mediolanum International Funds Ltd Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Mediolanum International Funds Ltd trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 43.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,782 shares of the company’s stock after selling 12,908 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Constellation Brands were worth $4,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of STZ. Guidance Capital Inc. bought a new position in shares of Constellation Brands during the first quarter worth $251,000. D.B. Root & Company LLC bought a new stake in shares of Constellation Brands during the 1st quarter worth approximately $477,000. Chatham Capital Group Inc. purchased a new position in Constellation Brands during the 1st quarter valued at $220,000. SteelPeak Wealth LLC grew its position in Constellation Brands by 1.4% in the 1st quarter. SteelPeak Wealth LLC now owns 4,501 shares of the company’s stock valued at $1,223,000 after acquiring an additional 61 shares during the last quarter. Finally, Oak Asset Management LLC increased its stake in Constellation Brands by 1.5% in the first quarter. Oak Asset Management LLC now owns 16,842 shares of the company’s stock worth $4,577,000 after purchasing an additional 255 shares during the period. Institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on STZ shares. Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Barclays cut their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Jefferies Financial Group boosted their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Truist Financial lowered their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Insider Activity

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,367 shares of company stock valued at $32,539,170. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ opened at $239.38 on Friday. Constellation Brands, Inc. has a fifty-two week low of $227.64 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company has a market capitalization of $43.80 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.70 and a beta of 1.75. The business’s 50-day moving average is $246.34 and its 200-day moving average is $250.69.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 earnings per share. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders 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 dividend yield of 1.69%. Constellation Brands’s payout ratio is 30.10%.

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.