Geode Capital Management LLC Has $805.98 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Geode Capital Management LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,140,680 shares of the company’s stock after selling 32,430 shares during the quarter. Geode Capital Management LLC’s holdings in Constellation Brands were worth $805,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at about $25,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at about $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at about $36,000. Wellington Shields & Co. LLC raised its stake in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Constellation Brands in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STZ. BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. 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. Barclays lowered their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Needham & Company LLC assumed coverage on Constellation Brands in a report on Friday, December 6th. They set a “buy” rating and a $280.00 price target for the company. Finally, Bank of America reiterated a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and fifteen 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 price target of $288.70.

Insider Buying and Selling

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by company insiders.

Constellation Brands Stock Down 1.1 %

Shares of NYSE:STZ opened at $239.84 on Thursday. The firm has a market cap of $43.55 billion, a P/E ratio of 79.14, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The business has a fifty day simple moving average of $239.53 and a 200 day simple moving average of $246.17.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating 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 company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

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.