Certuity LLC Purchases 9,317 Shares of Constellation Brands, Inc. (NYSE:STZ)

Certuity LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1,193.0% in the second quarter, Holdings Channel reports. The fund owned 10,098 shares of the company’s stock after acquiring an additional 9,317 shares during the period. Certuity LLC’s holdings in Constellation Brands were worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors increased its holdings in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors raised its position in shares of Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Constellation Brands by 9.9% in the first 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 period. Finally, Norges Bank acquired a new stake in Constellation Brands during the fourth quarter worth about $443,844,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Up 0.3 %

Shares of STZ opened at $249.01 on Friday. The company has a market capitalization of $45.56 billion, a P/E ratio of 18.56, a PEG ratio of 1.59 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The business’s 50 day simple moving average is $246.35 and its 200-day simple moving average is $253.71. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm earned $2.91 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.54 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Wall Street Analyst Weigh In

STZ has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, September 3rd. Morgan Stanley decreased their price target 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. Roth Mkm dropped their price objective on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial reaffirmed a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, UBS Group upped their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, July 5th. 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 MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $298.17.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by corporate insiders.

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.