CANADA LIFE ASSURANCE Co Reduces Stake in Constellation Brands, Inc. (NYSE:STZ)

CANADA LIFE ASSURANCE Co lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 26.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,683 shares of the company’s stock after selling 43,744 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.07% of Constellation Brands worth $33,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in Constellation Brands in the fourth quarter valued at approximately $28,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands in the first quarter valued at approximately $35,000. Kapitalo Investimentos Ltda acquired a new position in Constellation Brands in the fourth quarter valued at approximately $35,000. First Financial Corp IN acquired a new position in Constellation Brands in the first quarter valued at approximately $35,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Constellation Brands in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,214 shares of company stock worth $7,620,551. 12.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on STZ. Deutsche Bank Aktiengesellschaft boosted their price target on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. HSBC upped their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. UBS Group upped their target price on Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Truist Financial reaffirmed a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.28.

Constellation Brands Trading Up 0.5 %

NYSE:STZ traded up $1.27 during trading hours on Thursday, hitting $248.15. The company had a trading volume of 500,170 shares, compared to its average volume of 1,205,546. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $253.02 and a 200 day moving average of $255.09. The company has a market cap of $45.22 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.62 and a beta of 0.87. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.91 EPS. Sell-side 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 Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

About Constellation Brands

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.