Quantinno Capital Management LP Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Quantinno Capital Management LP boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 58.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,944 shares of the company’s stock after purchasing an additional 2,928 shares during the quarter. Quantinno Capital Management LP’s holdings in Constellation Brands were worth $2,047,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. NFJ Investment Group LLC lifted its holdings in Constellation Brands by 617.3% during the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after buying an additional 93,273 shares during the last quarter. Coho Partners Ltd. lifted its stake in Constellation Brands by 40.1% during the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock worth $72,947,000 after purchasing an additional 80,970 shares during the last quarter. Finally, Interval Partners LP bought a new position in shares of Constellation Brands in the 2nd quarter worth about $19,134,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on STZ. BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Morgan Stanley lowered their price objective 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. Truist Financial cut their target price 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, Wells Fargo & Company reduced their price target on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $288.70.

Constellation Brands Stock Performance

STZ stock opened at $242.60 on Wednesday. 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, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The business’s fifty day moving average is $239.83 and its 200-day moving average is $246.21. The company has a market cap of $44.05 billion, a P/E ratio of 78.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (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 firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the company earned $3.70 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS 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 paid 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 yield of 1.67%. Constellation Brands’s dividend payout ratio is 130.74%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 in the last 90 days. 12.19% of the stock is currently owned by insiders.

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.