Constellation Brands Inc (NYSE:STZ) Stock Holdings Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 938,755 shares of the company's stock after purchasing an additional 44,811 shares during the period. Bank of New York Mellon Corp owned approximately 0.52% of Constellation Brands worth $172,280,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands in the fourth quarter worth $26,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter worth $29,000. Optiver Holding B.V. acquired a new stake in shares of Constellation Brands in the fourth quarter worth $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the first quarter worth $32,000. Finally, Rakuten Securities Inc. increased its position in shares of Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president directly owned 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. CJS Securities reduced their price target on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Barclays set a $202.00 price target on shares of Constellation Brands and gave the company an "overweight" rating in a report on Thursday, June 26th. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Finally, Roth Capital lowered their price target on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands Stock Performance

Shares of NYSE STZ traded up $0.37 during midday trading on Tuesday, hitting $170.71. The company's stock had a trading volume of 1,744,631 shares, compared to its average volume of 1,912,686. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $264.45. The firm's fifty day moving average price is $176.80 and its 200-day moving average price is $182.62. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The firm has a market cap of $30.39 billion, a P/E ratio of -71.43, a P/E/G ratio of 9.57 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.57 earnings per share. On average, sell-side analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

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.