iA Global Asset Management Inc. Boosts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

iA Global Asset Management Inc. grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 331.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,401 shares of the company’s stock after acquiring an additional 7,990 shares during the period. iA Global Asset Management Inc.’s holdings in Constellation Brands were worth $2,299,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands in the fourth quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Constellation Brands in the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Constellation Brands in the fourth quarter worth $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands in the fourth quarter worth $28,000. Finally, Versant Capital Management Inc raised its position in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.6 %

Shares of NYSE:STZ opened at $177.73 on Friday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The company has a market cap of $32.12 billion, a PE ratio of 47.78, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock’s 50-day moving average is $177.32 and its 200 day moving average is $217.28.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.27%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on STZ shares. Barclays lowered their price objective on Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. BNP Paribas initiated coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price on the stock. Truist Financial reduced their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Finally, Citigroup cut Constellation Brands from a “buy” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $200.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and an average target price of $250.41.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 12.19% of the company’s stock.

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.