Principal Financial Group Inc. Cuts Stock Holdings in Constellation Brands Inc (NYSE:STZ)

Principal Financial Group Inc. reduced its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 1.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 172,271 shares of the company's stock after selling 1,693 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Constellation Brands worth $31,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Brighton Jones LLC grew its position in Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after acquiring an additional 187 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in Constellation Brands by 39.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock valued at $1,347,000 after buying an additional 1,733 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the fourth quarter valued at about $26,000. Proficio Capital Partners LLC purchased a new stake in Constellation Brands during the fourth quarter valued at about $25,119,000. Finally, Candriam S.C.A. boosted its position in Constellation Brands by 0.8% during the fourth quarter. Candriam S.C.A. now owns 11,037 shares of the company's stock valued at $2,439,000 after buying an additional 88 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on STZ shares. Piper Sandler upped their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Barclays set a $202.00 price target on shares of Constellation Brands and gave the company an "overweight" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Cowen restated a "hold" rating on shares of Constellation Brands in a research report on Monday. Finally, Roth Mkm cut their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.74.

Constellation Brands Trading Up 0.1%

STZ stock traded up $0.15 during trading on Friday, reaching $172.27. The company had a trading volume of 1,370,929 shares, compared to its average volume of 1,922,487. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $264.45. The company has a market cap of $30.67 billion, a P/E ratio of -72.08, a PEG ratio of 10.42 and a beta of 0.67. The business has a 50 day moving average of $175.86 and a 200 day moving average of $182.07. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the business posted $3.57 EPS. Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands Inc will post 13.5 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 14th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio 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.