Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,831 shares of the company’s stock after purchasing an additional 36,701 shares during the period. Canada Pension Plan Investment Board owned about 0.18% of Constellation Brands worth $90,994,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STZ. YHB Investment Advisors Inc. acquired a new position in shares of Constellation Brands during the first quarter worth $35,000. Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands in the fourth quarter valued at $35,000. First Financial Corp IN acquired a new stake in Constellation Brands in the first quarter valued at $35,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Constellation Brands in the fourth quarter valued at $37,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Constellation Brands in the first quarter valued at $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the transaction, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders sold 29,214 shares of company stock worth $7,620,551 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $4.10 during trading on Friday, hitting $253.48. 846,431 shares of the stock were exchanged, compared to its average volume of 1,287,151. The stock’s fifty day moving average is $252.86 and its 200 day moving average is $255.08. The stock has a market cap of $46.38 billion, a PE ratio of 18.89, a P/E/G ratio of 1.64 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 EPS. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.59%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Wall Street Analyst Weigh In

STZ has been the topic of several recent analyst reports. Roth Mkm cut their price target on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a report on Friday, July 5th. HSBC upped their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday, May 28th. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $300.28.

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.