QRG Capital Management Inc. Sells 76 Shares of Constellation Brands, Inc. (NYSE:STZ)

QRG Capital Management Inc. decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,275 shares of the company’s stock after selling 76 shares during the period. QRG Capital Management Inc.’s holdings in Constellation Brands were worth $844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. grew its holdings in shares of Constellation Brands by 2.3% in the third quarter. Asset Management One Co. Ltd. now owns 61,102 shares of the company’s stock worth $15,745,000 after acquiring an additional 1,377 shares during the period. National Pension Service grew its holdings in shares of Constellation Brands by 13.6% in the third quarter. National Pension Service now owns 381,755 shares of the company’s stock worth $98,374,000 after acquiring an additional 45,707 shares during the period. Cohen Capital Management Inc. grew its holdings in shares of Constellation Brands by 1.8% in the third quarter. Cohen Capital Management Inc. now owns 46,093 shares of the company’s stock worth $11,878,000 after acquiring an additional 798 shares during the period. Klingenstein Fields & Co. LP grew its holdings in shares of Constellation Brands by 0.4% in the third quarter. Klingenstein Fields & Co. LP now owns 114,649 shares of the company’s stock worth $29,544,000 after acquiring an additional 418 shares during the period. Finally, Intact Investment Management Inc. grew its holdings in shares of Constellation Brands by 370.8% in the third quarter. Intact Investment Management Inc. now owns 18,410 shares of the company’s stock worth $4,744,000 after acquiring an additional 14,500 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.5 %

Shares of STZ stock opened at $234.38 on Friday. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. 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 stock’s 50-day moving average price is $244.87 and its 200-day moving average price is $248.86. The stock has a market capitalization of $42.55 billion, a price-to-earnings ratio of 75.85, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the firm posted $3.70 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict 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. Shareholders of record on Tuesday, November 5th will be paid 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 1.72%. Constellation Brands’s payout ratio is currently 130.74%.

Analyst Ratings Changes

Several analysts recently commented on STZ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,210 shares of company stock valued at $31,040,994 over the last ninety days. 12.19% of the stock is owned by insiders.

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.