Industrial Alliance Investment Management Inc. Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Industrial Alliance Investment Management Inc. increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,049 shares of the company’s stock after buying an additional 44 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Constellation Brands were worth $285,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Capital International Investors boosted its stake in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares in the last quarter. Norges Bank bought a new position in Constellation Brands during the fourth quarter valued at $443,844,000. Capital World Investors boosted its stake in shares of 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. Boston Partners bought a new stake in Constellation Brands during the 4th quarter valued at about $156,358,000. Finally, International Assets Investment Management LLC lifted its holdings in Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after buying an additional 564,744 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold a total of 31,068 shares of company stock valued at $8,088,556 over the last three months. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Truist Financial reiterated a “hold” rating and issued a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a research report on Monday, April 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $300.28.

Constellation Brands Price Performance

STZ stock traded up $3.16 during trading on Wednesday, hitting $246.46. The company had a trading volume of 405,005 shares, compared to its average volume of 1,202,230. The company has a fifty day moving average price of $252.62 and a two-hundred day moving average price of $254.91. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market cap of $44.91 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.62 and a beta of 0.87. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 earnings per share. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. Constellation Brands’s payout ratio is 30.10%.

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.