Schear Investment Advisers LLC Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Schear Investment Advisers LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.0% during the 3rd quarter, Holdings Channel reports. The fund owned 4,141 shares of the company’s stock after purchasing an additional 444 shares during the period. Schear Investment Advisers LLC’s holdings in Constellation Brands were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STZ. Capital International Investors lifted its holdings in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors raised its position in 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 acquiring an additional 723,549 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $119,394,000. Finally, Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $237.51 on Friday. The company’s 50 day simple moving average is $244.13 and its 200-day simple moving average is $248.05. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The company has a market capitalization of $43.12 billion, a price-to-earnings ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released 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. 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 analysts’ expectations of $2.95 billion. During the same period in the prior year, the firm earned $3.70 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Analyst Ratings Changes

STZ has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

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.