Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200,197 shares of the company’s stock after selling 5,193 shares during the period. Principal Financial Group Inc. owned 0.11% of Constellation Brands worth $51,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $36,000. Wellington Shields & Co. LLC increased its position in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the period. Eastern Bank bought a new stake in Constellation Brands in the third quarter valued at $39,000. FSA Wealth Management LLC acquired a new position in shares of Constellation Brands during the third quarter valued at $42,000. Finally, Denver PWM LLC bought a new position in shares of Constellation Brands during the second quarter worth about $42,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.3 %

Shares of NYSE STZ opened at $227.63 on Monday. The business has a fifty day simple moving average of $237.87 and a 200-day simple moving average of $245.37. The company has a market cap of $41.33 billion, a price-to-earnings ratio of 73.67, a P/E/G ratio of 1.69 and a beta of 0.90. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 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 announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the company posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Insider Activity

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s 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 approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on STZ shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, November 19th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. 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 note on Friday, October 4th. Finally, UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $288.70.

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.