Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Northcape Wealth Management LLC

Northcape Wealth Management LLC increased its position in Constellation Brands, Inc. (NYSE:STZ) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,921 shares of the company’s stock after acquiring an additional 123 shares during the period. Northcape Wealth Management LLC’s holdings in Constellation Brands were worth $2,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors boosted its holdings in Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors grew its position in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the period. Capital Research Global Investors raised its stake in shares of Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Finally, Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $290.47.

Insider Activity

In related news, 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 value of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,296 shares of company stock worth $45,899,031 over the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 1.9 %

NYSE STZ opened at $237.51 on Friday. The business has a fifty day moving average price of $244.13 and a 200 day moving average price of $248.09. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market cap of $43.12 billion, a P/E ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business 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 company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.70 earnings per share. Research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Tuesday, November 5th. 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.