Assetmark Inc. Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Assetmark Inc. lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,974 shares of the company’s stock after purchasing an additional 627 shares during the period. Assetmark Inc.’s holdings in Constellation Brands were worth $6,277,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of STZ. Indiana Trust & Investment Management CO purchased a new stake in shares of Constellation Brands during the 3rd quarter worth approximately $25,000. Impact Partnership Wealth LLC boosted its holdings in Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after buying an additional 94 shares during the period. Old North State Trust LLC boosted its holdings in Constellation Brands by 3,290.0% in the 1st quarter. Old North State Trust LLC now owns 678 shares of the company’s stock worth $27,000 after buying an additional 658 shares during the period. CVA Family Office LLC boosted its holdings in Constellation Brands by 323.1% in the 2nd quarter. CVA Family Office LLC now owns 110 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the period. Finally, TimeScale Financial Inc. bought a new position in Constellation Brands in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Insider Activity

In other news, major shareholder Family Foundation Sands sold 102,152 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $241.84, for a total transaction of $24,704,439.68. Following the completion of the transaction, the insider now directly owns 409,077 shares of the company’s stock, valued at $98,931,181.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 593,130 shares of company stock valued at $146,487,062. Insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $258.40 on Friday. The company’s fifty day moving average is $240.82 and its 200 day moving average is $249.25. Constellation Brands, Inc. has a 52 week low of $210.15 and a 52 week high of $273.65. The stock has a market cap of $47.24 billion, a PE ratio of 30.58, a PEG ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.46, a current ratio of 1.05 and a debt-to-equity ratio of 1.05.

Constellation Brands (NYSE:STZGet Free Report) last issued its quarterly earnings data on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.03 by $0.16. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.54 billion. Constellation Brands had a net margin of 14.76% and a return on equity of 23.35%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.83 earnings per share. Research analysts anticipate that Constellation Brands, Inc. will post 11.88 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Wednesday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is 42.13%.

Analyst Ratings Changes

Several research analysts recently commented on STZ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of Constellation Brands in a report on Friday, September 15th. Barclays cut their price target on shares of Constellation Brands from $294.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, October 6th. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group began coverage on shares of Constellation Brands in a report on Monday, November 13th. They issued a “buy” rating and a $292.00 price target for the company. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $289.24.

Check Out Our Latest Analysis on Constellation Brands

Constellation Brands Profile

(Free Report)

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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