Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Lessened by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,703 shares of the company’s stock after selling 12,102 shares during the quarter. M&T Bank Corp owned approximately 0.05% of Constellation Brands worth $24,104,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of STZ. Morgan Stanley grew its stake in Constellation Brands by 1.5% during the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after buying an additional 58,518 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Constellation Brands by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock worth $376,752,000 after acquiring an additional 53,862 shares during the period. Charles Schwab Investment Management Inc. grew its position in Constellation Brands by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock worth $255,126,000 after purchasing an additional 85,330 shares during the last quarter. Darsana Capital Partners LP increased its stake in shares of Constellation Brands by 288.9% in the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after purchasing an additional 650,000 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Constellation Brands by 9.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock valued at $201,236,000 after buying an additional 71,979 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.8 %

NYSE STZ traded up $2.00 during trading on Friday, reaching $256.08. 735,854 shares of the company’s stock were exchanged, compared to its average volume of 1,409,209. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a fifty-two week low of $221.81 and a fifty-two week high of $274.87. The company’s fifty day simple moving average is $260.83 and its 200-day simple moving average is $248.69. The firm has a market capitalization of $46.82 billion, a PE ratio of 27.30, a P/E/G ratio of 1.72 and a beta of 0.95.

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

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is presently 43.07%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STZ. Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target for the company. UBS Group increased their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, April 12th. HSBC boosted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a report on Monday, April 15th. Finally, Jefferies Financial Group upped their target price on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 4,013 shares of the 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 transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is owned by corporate 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.