MidWestOne Financial Group Inc. Has $2.59 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

MidWestOne Financial Group Inc. lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 48.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,031 shares of the company’s stock after purchasing an additional 3,281 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Constellation Brands were worth $2,585,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Paloma Partners Management Co grew its holdings in Constellation Brands by 568.4% during the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after acquiring an additional 25,512 shares during the period. Empowered Funds LLC boosted its position in shares of Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after purchasing an additional 7,752 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Constellation Brands during the third quarter worth approximately $2,132,000. WealthPlan Investment Management LLC boosted its holdings in shares of Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after buying an additional 6,867 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its position in shares of Constellation Brands by 7.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 39,431 shares of the company’s stock worth $10,161,000 after buying an additional 2,627 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STZ shares. BNP Paribas began coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Needham & Company LLC assumed coverage on shares of Constellation Brands in a research note on Friday. They issued a “buy” rating and a $280.00 price objective on the stock. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Truist Financial dropped their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $288.70.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $244.31 on Tuesday. The company has a 50-day moving average price of $239.83 and a two-hundred day moving average price of $246.21. The firm has a market capitalization of $44.36 billion, a PE ratio of 79.06, a P/E/G ratio of 1.69 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company posted $3.70 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.65%. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

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.