Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 27.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,871 shares of the company’s stock after acquiring an additional 15,182 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Constellation Brands were worth $18,234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STZ. Vanguard Group Inc. boosted its holdings in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Capital International Investors lifted its holdings in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors lifted its holdings 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 purchasing an additional 723,549 shares in the last quarter. Capital Research Global Investors lifted its holdings in Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after purchasing an additional 222,380 shares in the last quarter. Finally, Norges Bank purchased a new position in Constellation Brands during the fourth quarter valued at $443,844,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.2 %

Shares of NYSE STZ traded down $0.57 during midday trading on Friday, hitting $237.40. The company’s stock had a trading volume of 468,994 shares, compared to its average volume of 1,167,554. The business’s fifty day simple moving average is $248.68 and its two-hundred day simple moving average is $253.73. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm has a market capitalization of $43.44 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The business 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%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 earnings per share. On average, equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. Constellation Brands’s payout ratio is 30.10%.

Insider Activity

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last ninety days. 12.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays increased their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Morgan Stanley decreased their price target 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. Roth Mkm decreased their price target on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research note on Friday, July 5th. Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Finally, Truist Financial reissued a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.21.

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.