Intech Investment Management LLC Has $1.68 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Intech Investment Management LLC decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 33.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,509 shares of the company’s stock after selling 3,298 shares during the period. Intech Investment Management LLC’s holdings in Constellation Brands were worth $1,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Constellation Brands by 2.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 43,245 shares of the company’s stock valued at $11,144,000 after purchasing an additional 1,025 shares during the period. King Luther Capital Management Corp lifted its position in Constellation Brands by 12.4% during the 3rd quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock valued at $364,000 after purchasing an additional 156 shares during the period. Citizens Financial Group Inc. RI lifted its position in Constellation Brands by 16.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 53,587 shares of the company’s stock valued at $13,809,000 after purchasing an additional 7,665 shares during the period. Moors & Cabot Inc. lifted its position in Constellation Brands by 0.4% during the 3rd quarter. Moors & Cabot Inc. now owns 32,141 shares of the company’s stock valued at $8,282,000 after purchasing an additional 135 shares during the period. Finally, NS Partners Ltd lifted its position in Constellation Brands by 2.2% during the 3rd quarter. NS Partners Ltd now owns 28,649 shares of the company’s stock valued at $7,383,000 after purchasing an additional 611 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last ninety days. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America restated a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Evercore ISI lowered their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Truist Financial lowered their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $288.83.

Constellation Brands Price Performance

Shares of STZ opened at $241.67 on Tuesday. The stock has a market capitalization of $43.88 billion, a P/E ratio of 78.21, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a 50 day moving average of $242.80 and a 200-day moving average of $247.27. 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 (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.70 EPS. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.67%. Constellation Brands’s dividend payout ratio is currently 130.74%.

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.