Parametric Portfolio Associates LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 487,135 shares of the company’s stock after selling 79,204 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Constellation Brands were worth $85,409,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of STZ. Norges Bank acquired a new position in shares of Constellation Brands in the fourth quarter worth approximately $237,135,000. Janus Henderson Group PLC increased its holdings in Constellation Brands by 53.3% in the first quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock worth $371,831,000 after purchasing an additional 737,613 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Constellation Brands by 169.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,093,303 shares of the company’s stock worth $175,825,000 after purchasing an additional 687,703 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Constellation Brands in the fourth quarter worth approximately $55,937,000. Finally, SG Americas Securities LLC increased its holdings in Constellation Brands by 108.4% in the fourth quarter. SG Americas Securities LLC now owns 24,807 shares of the company’s stock worth $3,989,000 after purchasing an additional 320,320 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.
Shares of Constellation Brands stock opened at $198.68 on Monday. Constellation Brands, Inc. has a 12-month low of $150.37 and a 12-month high of $234.26. The firm has a market cap of $38.02 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.70 and a beta of 0.54. The company has a quick ratio of 0.49, a current ratio of 1.16 and a debt-to-equity ratio of 0.92.
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, May 9th. This represents a $3.00 annualized dividend and a yield of 1.51%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s dividend payout ratio is 32.33%.
In other Constellation Brands news, EVP David Eric Klein sold 25,980 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $198.66, for a total value of $5,161,186.80. Following the transaction, the executive vice president now owns 69,852 shares of the company’s stock, valued at $13,876,798.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas Michael Kane sold 3,071 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $190.08, for a total value of $583,735.68. The disclosure for this sale can be found here. Insiders have sold 76,646 shares of company stock valued at $15,572,098 in the last quarter. 15.80% of the stock is currently owned by corporate insiders.
STZ has been the subject of a number of research analyst reports. Morgan Stanley set a $233.00 target price on Constellation Brands and gave the stock a “buy” rating in a report on Thursday, February 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, February 21st. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Credit Suisse Group initiated coverage on Constellation Brands in a report on Wednesday, March 6th. They issued an “outperform” rating and a $230.00 target price for the company. Finally, ValuEngine upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $222.58.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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