Bank of Nova Scotia Has $11.50 Million Stock Holdings in Constellation Brands Inc $STZ

Bank of Nova Scotia grew its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,656 shares of the company's stock after purchasing an additional 29,488 shares during the period. Bank of Nova Scotia's holdings in Constellation Brands were worth $11,498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors boosted its holdings in shares of Constellation Brands by 48.5% in the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company's stock worth $888,930,000 after buying an additional 2,105,546 shares during the period. Norges Bank purchased a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $267,798,000. Ameriprise Financial Inc. lifted its position in shares of Constellation Brands by 650.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company's stock valued at $287,889,000 after acquiring an additional 1,533,961 shares in the last quarter. Wellington Management Group LLP boosted its stake in Constellation Brands by 14.0% in the 4th quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company's stock worth $830,333,000 after purchasing an additional 739,393 shares during the period. Finally, Pzena Investment Management LLC acquired a new position in Constellation Brands in the 4th quarter worth approximately $81,381,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Trading Up 0.0%

NYSE STZ opened at $130.19 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $176.32. The firm's fifty day simple moving average is $139.46 and its 200-day simple moving average is $149.27. The company has a market capitalization of $22.23 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 4.05 and a beta of 0.39.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.70 by ($0.27). The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.39 billion. Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. Constellation Brands's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.22 EPS. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 11.84 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, July 30th. Constellation Brands's payout ratio is currently 39.31%.

Wall Street Analyst Weigh In

Several analysts have issued reports on STZ shares. Freedom Capital downgraded shares of Constellation Brands from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Roth Capital reissued a "buy" rating and set a $209.00 price target on shares of Constellation Brands in a research report on Thursday, July 2nd. TD Cowen reissued a "buy" rating and issued a $174.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $169.00 to $165.00 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $190.00 target price on shares of Constellation Brands in a research note on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $167.53.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.20% of the stock is currently owned by company insiders.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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