Border to Coast Pensions Partnership Ltd Buys 5,385 Shares of Constellation Brands, Inc. (NYSE:STZ)

Border to Coast Pensions Partnership Ltd lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,236 shares of the company’s stock after acquiring an additional 5,385 shares during the quarter. Border to Coast Pensions Partnership Ltd owned approximately 0.07% of Constellation Brands worth $32,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors increased its stake in Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after buying an additional 723,549 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands in the 2nd quarter worth $119,394,000. Vanguard Group Inc. raised its holdings in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the period. Finally, Boston Partners lifted its position in shares of Constellation Brands by 50.9% in the first quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after acquiring an additional 328,881 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STZ. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, Morgan Stanley decreased their price target on shares of 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 assigned a buy rating to the stock. According to data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Buying and Selling at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,221 shares of company stock worth $33,007,175 over the last 90 days. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 1.2 %

NYSE:STZ traded down $3.01 during midday trading on Monday, hitting $238.51. 512,156 shares of the company traded hands, compared to its average volume of 1,189,472. The firm has a market capitalization of $43.64 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.70 and a beta of 1.75. The firm’s fifty day moving average is $246.51 and its 200-day moving average is $251.36. Constellation Brands, Inc. has a 12-month low of $227.64 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.

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

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given 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 dividend payout ratio (DPR) is presently 30.10%.

Constellation Brands Company 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.