Citizens Financial Group Inc. RI Purchases 7,665 Shares of Constellation Brands, Inc. (NYSE:STZ)

Citizens Financial Group Inc. RI increased its position in Constellation Brands, Inc. (NYSE:STZ) by 16.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 53,587 shares of the company’s stock after buying an additional 7,665 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Constellation Brands were worth $13,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its stake in shares of Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after buying an additional 39 shares in the last quarter. Oakworth Capital Inc. grew its holdings in shares of Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after acquiring an additional 42 shares during the period. PFG Investments LLC boosted its position in Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after purchasing an additional 42 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its stake in shares of Constellation Brands by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock worth $285,000 after buying an additional 44 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on STZ. BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. UBS Group dropped 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. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Stock Performance

Constellation Brands stock opened at $239.72 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market capitalization of $43.52 billion, a PE ratio of 77.58, a P/E/G ratio of 1.68 and a beta of 1.75. The company has a 50 day moving average price of $243.51 and a 200-day moving average price of $247.73. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating 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 business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business posted $3.70 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Activity

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on 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 approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Company 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.