Constellation Brands, Inc. (NYSE:STZ) Shares Bought by PGGM Investments

PGGM Investments grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 64.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,837 shares of the company’s stock after purchasing an additional 717 shares during the period. PGGM Investments’ holdings in Constellation Brands were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in STZ. BKM Wealth Management LLC acquired a new position in Constellation Brands in the fourth quarter worth approximately $28,000. Asset Dedication LLC raised its position in shares of Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Constellation Brands in the 4th quarter valued at $37,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Constellation Brands in the 3rd quarter worth about $41,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Constellation Brands during the 4th quarter worth about $45,000. 77.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Constellation Brands

In related news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $261.19 on Tuesday. The company has a market cap of $47.75 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.76 and a beta of 0.97. The business has a 50 day moving average price of $260.15 and a 200 day moving average price of $248.31. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the business earned $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.55%. Constellation Brands’s dividend payout ratio (DPR) is 37.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on STZ shares. Roth Mkm restated a “buy” rating and set a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. BMO Capital Markets upped their price target on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Jefferies Financial Group raised their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada upped their target price on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Piper Sandler began coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target for the company. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $298.55.

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.