Chartwell Investment Partners LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,431 shares of the company's stock after buying an additional 2,627 shares during the period. Chartwell Investment Partners LLC's holdings in Constellation Brands were worth $10,161,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the second quarter valued at approximately $32,000. LRI Investments LLC purchased a new stake in Constellation Brands during the first quarter worth approximately $37,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the second quarter worth $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO William A. Newlands sold 7,426 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction 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 $1,725,683.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William A. Newlands sold 7,426 shares of the company's 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,210 shares of company stock worth $31,040,994. 12.19% of the stock is currently owned by insiders.
Shares of STZ stock opened at $234.38 on Monday. 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 stock has a market capitalization of $42.55 billion, a price-to-earnings ratio of 75.85, a PEG ratio of 1.62 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. The company's 50-day simple moving average is $244.87 and its 200-day simple moving average is $248.68.
Constellation Brands (NYSE:STZ - Get Free Report) last released its 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 the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. Equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.72%. Constellation Brands's dividend payout ratio (DPR) is 130.74%.
Several equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a report on Monday, October 7th. Evercore ISI reduced their price objective on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research note on Tuesday, October 15th. Truist Financial reduced their price target on Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and lowered their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $290.47.
Check Out Our Latest Analysis on STZ
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Constellation Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Constellation Brands wasn't on the list.
While Constellation Brands currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.