Mackenzie Financial Corp Decreases Stake in Constellation Brands, Inc. (NYSE:STZ)

Mackenzie Financial Corp decreased its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 49.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,129 shares of the company's stock after selling 52,934 shares during the quarter. Mackenzie Financial Corp's holdings in Constellation Brands were worth $11,963,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock valued at $221,000 after buying an additional 187 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Constellation Brands by 359.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,512 shares of the company's stock valued at $1,218,000 after buying an additional 4,312 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Constellation Brands by 17.9% during the 4th quarter. Flagship Harbor Advisors LLC now owns 1,926 shares of the company's stock worth $426,000 after purchasing an additional 292 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Constellation Brands by 79.0% during the 4th quarter. Blue Trust Inc. now owns 1,828 shares of the company's stock worth $404,000 after purchasing an additional 807 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

NYSE:STZ traded down $1.61 during trading hours on Friday, hitting $178.10. 3,033,821 shares of the company were exchanged, compared to its average volume of 1,772,054. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 47.88, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. 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 company's 50 day moving average price is $184.91 and its 200-day moving average price is $195.33.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the previous year, the business posted $2.26 EPS. The business's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.29%. The ex-dividend date was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is presently -800.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $215.00 price target on shares of Constellation Brands in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Piper Sandler lowered shares of Constellation Brands from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Royal Bank of Canada reduced their price objective on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $225.74.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.19% of the stock is owned by 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.