The Manufacturers Life Insurance Company Sells 4,192 Shares of Constellation Brands, Inc. (NYSE:STZ)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,796 shares of the company’s stock after selling 4,192 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of Constellation Brands worth $24,170,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Private Trust Co. NA raised its position in shares of Constellation Brands by 2.7% in the third quarter. Private Trust Co. NA now owns 11,533 shares of the company’s stock valued at $2,972,000 after buying an additional 306 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Constellation Brands during the 3rd quarter worth $1,255,000. Truvestments Capital LLC acquired a new position in Constellation Brands in the 3rd quarter valued at $60,000. Boston Family Office LLC lifted its position in shares of Constellation Brands by 22.6% during the 3rd quarter. Boston Family Office LLC now owns 1,035 shares of the company’s stock valued at $267,000 after acquiring an additional 191 shares during the period. Finally, Bedell Frazier Investment Counselling LLC grew its holdings in shares of Constellation Brands by 2.2% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 23,873 shares of the company’s stock worth $6,152,000 after purchasing an additional 523 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 2.1 %

NYSE:STZ opened at $240.95 on Friday. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company has a market cap of $43.75 billion, a PE ratio of 77.98, a P/E/G ratio of 1.67 and a beta of 1.75. The firm’s 50 day simple moving average is $241.72 and its 200 day simple moving average is $246.75.

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

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on STZ shares. BNP Paribas started 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 for the company. Evercore ISI cut their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. Truist Financial reduced their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $289.16.

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.